With an interest rate of $4\%$ compounded continuously:

$($a$)$ Find the future value in $10$ years of a payment of $$12,000$ made today.

Round your answer to two decimal places.

$

$($b$)$ Find the future value of an income stream of $$1200$ per year over $10$ years.

Round your answer to two decimal places.

$

$($c$)$ Which is larger, the future value from the lump sum in part $($a$)$ or from the income stream in part $($b$)?$ Why does this make sense

financially?

The future value from the

is larger.

This makes sense because