The appropriate discount rate for the following cash flows is 16 percent compounded quarterly. What is the present value of the cash flows? Year 1 CF=700, Year 2 CF=600, Year 3 CF=0, Year 4 CF=1000 $1,539.15 $1,601.97 $1,601.64 $232.06 $1,570.56 Question 3 (10 points) Listen You are planning to make monthly deposits of $100 into a retirement account that pays 8 percent interest compounded monthly. If your first deposit will be made one month from now, how large will your retirement account be in 28 years? $124,856.45 $131,099.27 $114,406.60 $1,498,277.43 $118,613.63