Present and future values of a cash flow stream
An investment will pay $50 at the end of each of the next 3 years, $250 at the end of Year 4, $350 at the end of Year 5, and $600 at the end of Year 6.
a. If other investments of equal risk earn 11% annually, what is its present value? Round your answer to the nearest cent.
b. If other investments of equal risk earn 11% annually, what is its future value? Round your answer to the nearest cent.