What is the present value of the furniture payments

Reference no: EM13271535

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 $1,100 each with the first payment to be made one year from today. If the discount rate is 6 %, what is the present value of the furniture payments.

Reference no: EM13271535

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