Multiple Choice
The furniture store offers you no-money-down on a new set of living room furniture.Further,you may pay for the furniture in three equal annual end-of-the-year payments of $750 each with the first payment to be made one year from today.If the discount rate is 5%,what is the present value of the furniture payments?
A) $2,042.44
B) $2,214.27
C) $2,333.39
D) $2,673.01
Correct Answer:
Verified
Correct Answer:
Verified
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