Q$1.$

You are considering an investment that promises the following cash flows over the next five years:

Year $1$: $$1,500$

Year $2$: $$1,800$

Year $3$: $$2,000$

Year $4$: $$1,700$

Year $5$: $$2,200$

If the discount rate is $5\%$ annually, what is the present value of these cash flows?