Question
Investment X offers to pay you $5,700 per year for 9 years, whereas Investment Y offers to pay you $7,500 per year for 5 years.
Investment X offers to pay you $5,700 per year for 9 years, whereas Investment Y offers to pay you $7,500 per year for 5 years.
If the discount rate is 5 percent, what is the present value of these cash flows? (Enter rounded answers as directed, but do not use rounded numbers in intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).)
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