If a business manager deposits $60,000 in a bond fund at the end of each year for twenty years, what will be the value of his investment: a. At a compounded rate of 7 percent? b. At a compounded rate...

If a business manager deposits $60,000 in a bond fund at the end of each year for twenty years, what will be the value of his investment:

a. At a compounded rate of 7 percent?

b. At a compounded rate of 3 percent?

What would the outcome be in each case if the deposits were made at the beginning of each year?