Using the time value of money to compute the present and future values of single lump sums and annuities. Assume you make the following investments:
a. You invest $8,000 for five years at 14% interest.
b. In a different account earning 14% interest, you invest $1,750 at the end of each year for five years.
Requirement
1. Calculate the value of each investment at the end of five years.