A series of five constant-dollar (or real-dollar) payments (beginning with $5,000 at the end of the first

Question:

A series of five constant-dollar (or real-dollar) payments (beginning with $5,000 at the end of the first year) are increasing at the rate of 7% per year. Assume that the average general inflation rate is 5% and the market interest rate is 12% during this inflationary period. What is the equivalent present worth of the series?