Price at an annual rate


A furniture store has a sofa on sale for $399.00, with the payment due one year from today. The store is willing to discount the price at an annual rate of 5% if you pay today. What is the amount if you pay today?

a. $419

b. $394

c. $399

d. $380.

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Finance Basics: Price at an annual rate
Reference No:- TGS0675150

Now Priced at $5 (50% Discount)

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