Problem:
You have been offered the opportunity to invest in a project that will pay $2,726 per year at the end of years one through three and $5,219 per year at the end of years four and five. These cash flows will be placed in a saving account that pays 9.49 percent per year.
Required:
Question: What is the future value of this cash flow pattern at the end of year five?
Note: Please describe comprehensively and provide step by step solution.