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A furniture store has a sofa on sale for 39900 with the

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A furniture store has a sofa on sale for $399.00, with the payment due one year from today. The store is willing to discount the price at an annual rate of 5% if you pay today. What is the amount if you pay today?

a. $419

b. $394

c. $399

d. $380.

Reference no: EM13570310

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