Assume you make the following investments: a. You invest a lump sum of $8,550 for four years at 14% interest. What is the investment's value at the end of four years? b. In a different account earning 14% interest, you invest $2,138 at the end of each year for four years. What is the investment's value at the end of fours? c. What general rule of thumb explains the difference in the investments' future values? (Click the icon to view the future value factor table.) (Click the icon to view the future value annuity factor table.) (Click the icon to view the present value factor table.' (Click the icon to view the present value annuity factor table.) Future Value of Annuity of $1 Present Value of $1 \begin{tabular}{|l|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline Periods & 1% & 2% & 3% & 4% & 5% & 6% & 8% & 10% & 12% & 14% & 16% & 18% & 20% \\ \hline Period 1 & 0.990 & 0.980 & 0.971 & 0.962 & 0.952 & 0.943 & 0.926 & 0.909 & 0.893 & 0.877 & 0.862 & 0.847 & 0.833 \\ Period 2 & 0.980 & 0.961 & 0.943 & 0.925 & 0.907 & 0.890 & 0.857 & 0.826 & 0.797 & 0.769 & 0.743 & 0.718 & 0.694 \\ Period 3 & 0.971 & 0.942 & 0.915 & 0.889 & 0.864 & 0.840 & 0.794 & 0.751 & 0.712 & 0.675 & 0.641 & 0.609 & 0.579 \\ Period 4 & 0.961 & 0.924 & 0.888 & 0.855 & 0.823 & 0.792 & 0.735 & 0.683 & 0.636 & 0.592 & 0.552 & 0.516 & 0.482 \\ Period 5 & 0.951 & 0.906 & 0.863 & 0.822 & 0.784 & 0.747 & 0.681 & 0.621 & 0.567 & 0.519 & 0.476 & 0.437 & 0.402 \\ Period 6 & 0.942 & 0.888 & 0.837 & 0.790 & 0.746 & 0.705 & 0.630 & 0.564 & 0.507 & 0.456 & 0.410 & 0.370 & 0.335 \\ Period 7 & 0.933 & 0.871 & 0.813 & 0.760 & 0.711 & 0.665 & 0.583 & 0.513 & 0.452 & 0.400 & 0.354 & 0.314 & 0.279 \\ Period 8 & 0.923 & 0.853 & 0.789 & 0.731 & 0.677 & 0.627 & 0.540 & 0.467 & 0.404 & 0.351 & 0.305 & 0.266 & 0.233 \\ Period 9 & 0.914 & 0.837 & 0.766 & 0.703 & 0.645 & 0.592 & 0.500 & 0.424 & 0.361 & 0.308 & 0.263 & 0.225 & 0.194 \\ Period 10 & 0.905 & 0.820 & 0.744 & 0.676 & 0.614 & 0.558 & 0.463 & 0.386 & 0.322 & 0.270 & 0.227 & 0.191 & 0.162 \\ Period 11 & 0.896 & 0.804 & 0.722 & 0.650 & 0.585 & 0.527 & 0.429 & 0.350 & 0.287 & 0.237 & 0.195 & 0.162 & 0.135 \\ Period 12 & 0.887 & 0.788 & 0.701 & 0.625 & 0.557 & 0.497 & 0.397 & 0.319 & 0.257 & 0.208 & 0.168 & 0.137 & 0.112 \\ Period 13 & 0.879 & 0.773 & 0.681 & 0.601 & 0.530 & 0.469 & 0.368 & 0.290 & 0.229 & 0.182 & 0.145 & 0.116 & 0.093 \\ Period 14 & 0.870 & 0.758 & 0.661 & 0.577 & 0.505 & 0.442 & 0.340 & 0.263 & 0.205 & 0.160 & 0.125 & 0.099 & 0.078 \\ Period 15 & 0.861 & 0.743 & 0.642 & 0.555 & 0.481 & 0.417 & 0.315 & 0.239 & 0.183 & 0.140 & 0.108 & 0.084 & 0.065 \\ Period 20 & 0.820 & 0.673 & 0.554 & 0.456 & 0.377 & 0.312 & 0.215 & 0.149 & 0.104 & 0.073 & 0.051 & 0.037 & 0.026 \\ Period 25 & 0.780 & 0.610 & 0.478 & 0.375 & 0.295 & 0.233 & 0.146 & 0.092 & 0.059 & 0.038 & 0.024 & 0.016 & 0.010 \\ Period 30 & 0.742 & 0.552 & 0.412 & 0.308 & 0.231 & 0.174 & 0.099 & 0.057 & 0.033 & 0.020 & 0.012 & 0.007 & 0.004 \\ Period 40 & 0.672 & 0.453 & 0.307 & 0.208 & 0.142 & 0.097 & 0.046 & 0.022 & 0.011 & 0.005 & 0.003 & 0.001 & 0.001 \\ \hline \end{tabular} Present Value of Annuitv of $1