An investment project costs $21,500 and has annual cash flows of $4,500 for 10 years. What is the payback period?

4.78 years

10 years

never

3.57 years

4.12 years

You will receive $7,100, $8,700, and $22,500 each year starting at the end of year 0 (ending at year 2). What is the future value of these cash flows at the end of year seven if the interest rate is 7 percent?

$56,015

$42,907

$54,276

$45,683

$37,255