Question: Directions: Solve Completely. Show formula, substitute values, solve. Observe accuracy: at least 2 decimal places for non-interest values and at least 4 for interest values.

Directions: Solve Completely. Show formula, substitute values, solve. Observe accuracy: at least 2 decimal places for non-interest values and at least 4 for interest values. BOX all final answers.

1.A cash flow series is increasing geometrically at the rate of 10% per year.The initial payment at time 3 is $10,000 with increasing annual payments ending at time 50.Interest rate is 15% c. annually for the first 15 years and 5% c. annually for the remaining 35 years.Find the present worth equivalent to this cash flow.

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