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What is the amount if pay for the washing machine today

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Problem 1: The local improvement store has a Washington machine on sale for $975, with the payment due in 1 year (s) from today. The store is willing to discount the price at an annual rate of 7 % ( compounded annually) if you pay today. What is the amount if you pay for the washing machine today? Round the answer to two decimal places.

Reference no: EM132778085

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