Assume you make the following investments: a. You invest a lump sum of $8,250 for three years at 14% interest. What is the investment's value at the end of three years? b. In a different account earning 14% interest, you invest $2,750 at the end of each year for three years. What is the investment's value at the end of three years? 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.) a. You invest a lump sum of $8,250 for three years at 14% interest. What is the investment's value at the end of three years? (Round your answer to the nearest whole dollar.) Investment's value = Reference Future Value of Annuity of $1 Periods Period 1 Period 2 Period 3 Period 4 Period 5 1% 1.000 2.010 3.030 4.060 5.101 2% 1.000 2.020 3.060 4.122 5.204 3% 1.000 2.030 3.091 4.184 5.309 4% 1.000 2.040 3.122 4.246 5.416 5% 1.000 2.050 3.153 4.310 5.526 6% 1.000 2.060 3.184 4.375 5.637 8% 1.000 2.080 3.246 4.506 5.867 10% 1.000 2.100 3.310 4.641 6.105 12% 1.000 2.120 3.374 4.779 6.353 14% 1.000 2.140 3.440 4.921 6.610 16% 1.000 2.160 3.506 5.066 6.877 18% 1.000 2.180 3.572 5.215 7.154 20% 1.000 2.200 3.640 5.368 7.442 Period 6 Period 7 Period 8 Period 9 Period 10 6.152 6.308 6.468 6.633 6.802 6.975 7.214 7.434 7.662 7.898 8.142 8.394 8.286 8.583 8.892 9.214 9.549 9.897 9.369 9.755 10.159 10.583 11.027 11.491 10.462 10.950 11.464 12.006 12.578 13.181 7.336 7.716 8.115 8.923 9.487 10.089 10.637 11.436 12.300 12.488 13.579 14.776 14.48715.937 17.549 8,536 10.730 13.233 16.085 19.337 8.977 11.414 14.240 17.519 21.321 9.442 12.142 15.327 19.086 23.521 9.930 12.916 16.499 20.799 25.959 Period 11 Period 12 Period 13 Period 14 11.567 12.169 12.808 13.486 14.207 14.972 16.645 18.531 20.655 12.683 13.412 14.192 15.026 15.917 16.870 18.977 21.384 24.133 13.809 | 14.680 15.618 16.627 17.713 18.882 21.495 24.523 28.029 14.94715.974 17.086 18.292 19.599 21.015 24.215 27.975 32.393 23.045 27.271 32.089 37.581 25.733 30.850 36.786 43.672 28.755 34.931 42.219 50.818 32.150 39.581 48.497 59.196 Reference Present Value of Annuity of $1 Periods 1% 2% 3% 4% 5% 6% 8% 10% 12% 14% 16% Period 1 0.990 0.980 0.971 0.9620.952 0.943 0.926 0.9090.893 0.877 0.862 Period 2 1.970 1.942 1.913 1.886 1.859 1.833 1.783 1.736 1.690 1.647 1.605 Period 3 2.941 2.884 2.829 2.775 2.723 2.673 2.577 2.487 2.402 2.322 2.246 Period 4 3.902 3.808 3.717 3.630 3.546 3.465 3.312 3.1703.037 2.914 2.798 Period 5 4.853 4.713 4.580 4.452 4.329 4.2123.993 3.791 3.605 3.433 3.274 Period 6 5.795 5.601 5.417 5.2425.076 4.917 4.623 4.355 4.111 3.8893.685 Period 7 6.728 6.472 6.230 6.002 5.786 5.5825.206 4.868 4.564 4.288 4.039 Period 8 7.652 7.325 7.020 6.733 6.463 6.210 5.747 5.335 4.968 4.639 4.344 Period 9 8.566 8.1627.786 7.435 7.108 6.8026.247 5.759 5.328 4.9464.607 Period 10 9.471 8.983 8.530 8.111 7.7227.360 6.710 6.145 5.6505.216 4.833 18% 0.847 1.566 2.174 2.690 3.127 20% 0.833 1.528 2.106 2.589 2.991 3.498 3.326 3.812 3.605 4.078 3.837 4.303 4.031 4.494 4.192 Period 11 10.368 9.787 9.253 8.760 8.3067887 7.139 6.495 5.938 5.453 5.029 Period 12 11.255 10.575 9.9549.3858.863 8.384 7.536 6.814 6.1945.6605.197 Period 13 12. 134 11.348 10.635 9.986 9.394 8.853 7.904 7.103 6.424 5.842 5.342 Period 14 13.004 12.106 11.296 10.563 9.899 9.295 8.244 7.367 6.628 6.002 5.468 4.656 4.793 4.910 5.008 4.327 4.439 4.533 4.611