Local appliance store has a clothes dryer selling for $1189

jagguarpaw January 23, 2017 0 Comments

Question: The local appliance store has a clothes dryer sell…

The local appliance store has a clothes dryer selling for $1189, with payment due 7 years from today. The store is willing to discount the price at an annual rate of 4 percent (compounded annually) if you pay today. What is the amount if you pay for the clothes dryer today?