(Solving for i ) You are considering investing in a security that will pay you $5,000 in 31 years.
a. If the appropriate discount rate is 10 percent , what is the present value of this investment?
b. Assume these investments sell for $2,354 in return for which you receive 5,000 in 31 years. What is the rate of return investors earn on this investment if they buy it for $2,354 ?
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Part 1
a. If the appropriate discount rate is 10 percent, the present value of this investment is $
  
enter your response here. (Round to the nearest cent.)