1. Briefly explain in your own words how you would go about finding the future value of uneven cash flows. No numbers are needed for this question.
2. What is the accumulated sum of the following stream of payments? $13,339 every year at the beginning of the year for 11 years, at 8.15 percent, compounded annually. Round the answer to two decimal places.
3. Explain how a given investor chooses an optimal portfolio and the most significant driver that determines if a diversified or single asset will be used.