An investment of $1,000 yields a discrete cash flow of $1,000 at the end of the first year. Each year, thereafter, the magnitude of the annual cash flow increases at a nominal continuous compound rate of 8%. Based on a nominal continuous compound interest rate of 10%,
a) use equations to calculate the present worth for the investment over a 5-year period. (5 pts)
b) use Excel and the NPV worksheet function to solve part a).
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