Suppose you receive $$$$120$ at the end of each year for the next $3$ years.

a$.$ If the interest rate is $9\%,$ what is the present value of these cash$$ flows?

b$.$ What is the future value in $3$ years of the present value you computed in $($a$)?$

c$.$ Suppose you deposit the cash flows in a bank account that pays $9\%$ interest per year. What is the balance in the account at the end of each of the next $3$ years$($after your deposit is$$ made$)?$ How does the final bank balance compare with your answer in $($b$)?$

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Part $1$

a$.$ If the interest rate is $9\%,$ what is the present value of these cash$$ flows?

The present value of these cash flows is $$$

$$

enter your response here. $($Round to the nearest$$ cent.$)$

i$.$$$100$ received in $1$ year

ii$.$$$200$ received in $5$ years

iii. $$$$300$ received in $10$ years

a$.$ Rank the alternatives from most valuable to least valuable if the interest rate is $10\%$ per year.

b$.$ What is your ranking if the interest rate is only $5\%$ per$$ year?

c$.$ What is your ranking if the interest rate is $20\%$ per$$ year?

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Part $1$

a$.$ Rank the alternatives from most valuable to least valuable if the interest rate is $10\%$ per year.$($Select the best choice$$ below.$)$

A$.$

The ranking of the projects$$ is: option igreater thanoption iiigreater thanoption ii$.$

B$.$

The ranking of the projects$$ is: option iigreater thanoption igreater thanoption iii.

C$.$

The ranking of the projects$$ is: option iigreater thanoption iiigreater thanoption i$.$

D$.$

The ranking of the projects$$ is: option iiigreater thanoption iigreater thanoption i$.$