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Question 3You have been offered the opportunity to invest in a project that will pay $1,577 per year at the end of years one through three and $8,318 per year at the end of years four and five. These cash flows will be placed in a saving account that pays 17.48 percent per year. What is the future value of this cash flow pattern at the end of year five?Round the answer to two decimal places.Your Answer:Question 3 options:AnswerHide Check my answer
Enter: Rate 17.48%Nper 5 (since there are 5 years of cash flows from this investment)Pmt 0PV 11541.45 (in Excel it is better to click on cell where the answer to Step 1 is instead of typing the number)Type 0Get the answer 25827.36 (The answer appears in Excel as a negative number)=FV(17.48%,5,0,11541.45,0) = 25827.36