Suppose you have the alternative of receiving either $2700 at the end of 5 years or P dollars today. Currently you have no need for money, so you would deposit the P dollars in a bank that pays 7% interest. What value of P would make you indifferent in your choice between P dollars today and the promise of $2700 at the end of 5 years? (Keep one or two decimal places in answers)

Suppose you have the alternative of receiving either $2700 at the end of 5 years or P dollars today. Currently you have no need for money, so you would deposit the P dollars in a bank that pays 7% interest. What value of P would make you indifferent in your choice between P dollaris today and the promise of $2700 at the end of 5 years? (Keep one or two decimal places in answers)