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If a university plans to spend $1.7 million in year 1, $2.1 million in year 2, and $3.4 million in year 3 to develop the

If a university plans to spend $1.7 million in year 1, $2.1 million in year 2, and $3.4 million in year 3 to develop the technology, if the interest rate in year 1 is 10% and in year 2 and 3 is 12% per year.

Find:

1. The future worth

2. The present worth at year 0

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