Question 8 O out of 1 poin Gus Locklin is planning to open an investment firm in 3 years and currently has an amount of $278,660.00. Given an interest rate of 12.00% x compounded monthly, how much will they have in 3 years? Selected Answer Answers b. $279,354.05 a $398,698,03 b. $279,354.05 c $391,497 24 d. $1,085,652.67 Response Feedback FV=278.660 times(1+\frac{0.12 [12] M[(3/12)=398,698.03 FV- ? PV- 278,660 RATE- \frac{12}{12) - 1 NPER- 3\times 12-36 PMT- Note: in the calculator Rates are entered as a full value with out the percent and not converted to a decimal The solution may show rounding for clarity, do not round your intermediate calculations Question is not an annuity, make sure your Function is set to END (not BEGIN) 1. $398,698 03 True 2. $279,354 05 False 3. $391,497 24 False 4. 51,085,652.67 False