Suppose you receive $$150$ at the end of each year for the next three years.

a$.$ If the interest rate is $8\%,$ what is the present value of these cash flows?

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

c$.$ Suppose you deposit the cash flows in a bank account that pays $8\%$ interest per year. What is the balance in the account at the end of each of the next three years $($after your deposit is made$)?$ How does the final bank balance compare with your answer in $($b$)?$

a$.$ If the interest rate is $8\%,$ what is the present value of these cash flows?

The present value of these cash flows is $$,.($Round to the nearest cent.$)$

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

The future value in three years is $$.($Round to the nearest cent.$)$

c$.$ Suppose you deposit the cash flows in a bank account that pays $8\%$ interest per year. What is the balance in the account at the end of each of the next three years $($after your deposit is made$)?$

The balance in the account at the end of year one is $$.($Round to the nearest cent.$)$

The balance in the account at the end of year two is $$.($Round to the nearest cent.$)$

The balance in the account at the end of year three is $$.($Round to the nearest cent.$)$

How does the final bank balance compare with your answer in $($b$)?($Select from the drop$-$down menu and ignore small differences due to rounding.$)$