A financial asset costs $$500$ and produces cash flows in years $1,2,$dots,$5.$ The year $1$ cash flow is $$100$ and subsequent cash flows grow at a rate of $5\%.$ As you can see below, the asset's internal rate of return $($IRR$)$ is $3\mathrm{.}32\%.$

Use Solver to find a growth rate such that the IRR is $10\%.$

$\backslash$table$[[,\frac{?}{\text{b}\text{a}\text{r}}(A),$B$,$C$],[1,$Year $1$ cash flow,$100\mathrm{.}00,],[2,$Cash flow growth rate,$5\mathrm{.}00\%,],[3,1,,],[4,$Yoar,Cash llow,$],[5,0,500\mathrm{.}00,],[6,1,100\mathrm{.}00,s^{**}=B1$