An investment company is considering one of two possible business ventures. Project 1 gives a return of $ XXXXXXXXXXin four years’ time, whereas Project 2 gives a return of $ XXXXXXXXXXin eight years’...

An investment company is considering one of two possible business ventures. Project 1 gives a return of $250 000 in four years’ time, whereas Project
2 gives a return of $350 000 in eight years’ time. Which project should the
company invest in when the interest rate is 7% compounded annually?