Question & Answer: 13. What is the equivalent annual worth of a two-year contract that pays $5,000 at the beginning of the 1st month, and then in…..

13. What is the equivalent annual worth of a two-year contract that pays $5,000 at the beginning of the 1st month, and then increases by $500 for each month thereafter? The MARR = 12% compounded monthly. a. 5,511 b. $ 10,616 c. $131,982 d. $134,649