3. Investment X offers to pay you $5,900 per year for nine years, whereas Investment Y offers to pay you $8,600 per year for five years.
Calculate the present value for Investments X and Y if the discount rate is 4 percent. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
Present value 

Investment X 
$ 

Investment Y 
$ 

Calculate the present value for Investments X and Y if the discount rate is 14 percent. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
Present value 

Investment X 
$ 

Investment Y 
$ 

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