5:

• Proficient-level: "A deposit of $350 earns the following interest rates: (a) 8 percent in the first year, (b) 6 percent in the second year, and (c) 5.5 percent in the third year. What would be the third year future value?" (Cornett, Adair, & Nofsinger, 2016).
• Distinguished-level: Explain why the future value is not calculated as the average of the annual interest rates