Calculate the present worth of a geometric gradient series with $10,000 in year 1, which increases by 4% each year through year 5. Use 10% per year as the interest rate.
A bonus package pays an employee $2000 at the end of the first year, $2500 at the end of the second year, and so on, for the first 10 years of employment. What is the present worth of the bonus package at 5% interest?
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