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(Present value of annuities and complex cash flows) You are given three investment alternatives to analyze. The cash flows from these three investments are as

(Present value of annuities and complex cash flows) You are given three investment alternatives to analyze. The cash flows from these three investments are as follows:

Assuming an annual discount rate of 18 percent, find the present value of each investment.
Investment End of Year $21,000 $ 16,000 16,000 16,000 16,000 16,000 63,000 $ 16,000 16,000 16,000 16,000 16,000 16,000 21,000

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