You just bought a growing perpetuity bond for 1000. The bond makes a payment at the end of every year forever and has an interest rate of 5%. The payments grow by 2% each year. What is the amount of the FIFTH payment?

b. You just bought a growing perpetuity bond for $1000. The bond makes payment at the end of every year forever and has an interest rate of 5%. The payments grow by 2% each year. What is the amount of the fifth payment