A consultant to Finco claims that Finco’s cash on hand at time 3 is the sum of the cash in...

A consultant to Finco claims that Finco’s cash on hand at time 3 is the sum of the cash inflows from all investments, not just those investments yielding a cash inflow at time 3. Thus, the consultant claims that Finco’s objective function should be

Explain why the consultant is incorrect.