An investment pays you $100.00 at the end of each year of the next 3 years. Then it will pay you $300 at the end of Year 4, $200 at the end of year 5, and $500 at the end of year 6.

If the rate of return is 8 percent, what is its present value?

If the rate of return is 9 percent, what is its future value at the end of year 8?