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Investment X offers to pay you $6,000 per year for nine years, whereas Investment Y offers to pay you $8,700 per year for five years.
Investment X offers to pay you $6,000 per year for nine years, whereas Investment Y offers to pay you $8,700 per year for five years. a. Calculate the present value for Investments X and Y if the discount rate is 6 percent. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) b. Calculate the present value for Investments X and Y if the discount rate is 16 percent. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Answer is complete but not entirely correct
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