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1 3 . Elena also needs to calculate expenses for payroll and rent for Years 2 5 . She knows the starting amount for each

13. Elena also needs to calculate expenses for payroll and rent for Years 25. She knows the starting amount for each expense, and estimates the rent in Year 5 will be $64,000. She expects the payroll expenses to increase by at least 6 percent per year and the rent to increase by a constant rate. Project the expenses for Payroll in Years 25(cells C13:F13) using a Growth Trend extrapolation. Use 1.06(a 6 percent increase) as the step value. Project the expenses for Rent in Years 24(cells C14:E14) using a Growth Trend interpolation.

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