(L.OBJ. 3) Using the time value of money to compute the present and future values of single lump sums and annuities [5—10 min]
Assume you make the following investments:
a. You invest $7,250 for three years at 12% interest.
b. In a different account earning 12% interest, you invest $2,500 at the end of each year for three years.
Requirement
1. Calculate the value of each investment at the end of three years.
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