Growth rates You are given the series of cash flows shown in the following table.

a. Calculate the compound annual growth rate between the first and last payment in each stream.
b. If year-1 values represent initial deposits in a savings account paying annual interest, what is the annual rate of interest earned on each account?
c. Compare and discuss the growth rate and interest rate found in parts a and b,respectively.

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Cash flows Year A 1 $500 $1,500 $2,500 1,50 2,600 640 1,610 2,650 720 1,680 2650 560 8001760 2,800 1,850 2,850 1,950 2,900 2,060 2,170 2,280 10