HELP!! Can you please post link to excel for my part 2 question or just show steps? i will copy and paste question ( it is long) Find the future value of an increasing annuity. Imagine you want to accumulate certain amount, or future value, by making the same payments for certain number of periods. How much should your payments be? Strategy for solution: To develop the general formula lets first figure out the future value of n payments of $1. Payment $1 ... $1 $1 $1 Period 0 1 ... n-2 n-1 n The future value of the last payment made at time nis just $1. The future value of the next to last payment made at time n1 is just $(1+i), the accumulated value of a payment of $1 over one period. The future value of the payment made at time n2 is $(1+i)2 ,the accumulated value of a payment of $1 over 2 periods. The future value of the payment made at time 1 is $(1+i )n1 ,the accumulated value of a payment of $1 over n1 periods. The future value of all payments is the sum F=1+ ( 1+i )+(1+i)2 +(1+i)3 +...+(1+i)n1= k=0 n 1 (1+i)k In order to find a general formula for this sum, we need to review the sum of geometric progression. A geometric series is always going to look like 1+a+ a2 +a3 +...+ anfor some number a. Now, what does this have to do with finance? Lets look at an example. Let S=1+ r +r2 +...+r n1 = k=0 n1 rk S=1+ r +r2 +...+r n1 rS=r + r2+ ...+rn1 +rn The difference is: SrS=1r n S ( 1r ) =1rn S= k=0 n1 rk= rn 1 r1 In our example r =1+ i, thus we have F=(1+i)n 1 i . The future value F when the payment is equal to R is: F=R (1+i)n1