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Discount price at annual rate

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Local store has washing machines on sale for 1285.00 with payments due in 3 years from today. Store is willing to discount price at annual rate of 7% compounded annually if paid today. What is amount due today?

Reference no: EM131208748

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Discount price at annual rate : Local store has washing machines on sale for 1285.00 with payments due in 3 years from today. Store is willing to discount price at annual rate of 7% compounded annually if paid today. What is amount due today?
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