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GMG Studios plans to invest $40,000 at the end of each year for the next five years. There are three investment options available. Annual Rate

GMG Studios plans to invest $40,000 at the end of each year for the next five years. There are three investment options available.

Annual Rate Interest Compounded Period Invested
Option 1 5% Annually 5 years
Option 2 7 Annually 5 years
Option 3 10 Annually 5 years

Required:

Determine the accumulated investment amount by the end of the fifth year for each of the options. (FV of $1, PV of $1, FVA of $1, and PVA of $1)

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