An investment will pay $50 at the end of each of the next 3 years, $200 at the end of Year 4, $300 at the end of Year 5, and $550 at the end of Year 6.
a) If other investments of equal risk earn 9% annually, what is its present value? Round your answer to the nearest cent.
b) If other investments of equal risk earn 9% annually, what is its future value? Round your answer to the nearest cent.