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What is the amount if you pay for the washing

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The local home improvement store has a washing machine on sale for $601, with the payment due in 2 years from today. The store is willing to discount the price at an annual rate of 9 percent (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. All the work has to be shown!

Reference no: EM132540477

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