Spencer Corporation will invest $25,000 every December 31st for the next six years (2017 2022). If Spencer will earn 12% on the investment, what amount will be in the investment fund on December 31, 2022? $102,785. $115,120. $202,880. $227,225 The time value of money refers to the fact that a dollar received today is worth less than a dollar promised at some time in the future. True False Charlie Corp. is purchasing new equipment with a cash cost of $300,000 for an assembly line. The manufacturer has offered to accept $68,900 payment at the end of each of the next six years. How much interest will Charlie Corp. pay over the term of the loan?