Problem #$4$

The present worth at $t=0$ of a $10-$year increasing gradient series was calculated to be $$100,000.$ If the interest rate was $5\%$ per year and the annual rate of increase was $8\%$ per year, determine the cash flow amount in year $1$ using

a$)$ The formula

b$)$ The Goal Seek tool in Excel $($submit part b via