What will be the future value?
(1). A lump-sum of $3000 now, in 5 years at 7% compounded annually.
(2). Series of payment: $3000 at the end of each year for 5 years at 7% compounded annually.
(3). $1000 at the end of the first year, then increase at a rate of $100 for the following 4 years. The interest rate of 7% compounded annually.
(4). $1000 at the end of the first year, then increase by 10% for the following 4 years. The interest rate of 7% compounded annually.
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