$100 is received at the beginning of year 1, $200 is received at the beginning of year 2, and $300 is received

$100 is received at the beginning of year 1, $200 is received at the beginning of year 2, and $300 is received at the beginning of year 3. If these cash flows are deposited at 12 percent, their combined future value at the end of year 3 is $1,245. True False