Question
An investment will pay $100 at the end of each of the next 3 years, $400 at the end of Year 4, $600 at the end of Year 5, and $700 at the end of Year 6. If other investments of equal risk earn 8% annually, what is its present value?
What is its future value? Round your answer to the nearest cent.
Answer: 2203.51
What is its future value? Round your answer to the nearest cent.
Answer: 2203.51