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The store is willing to discount the price at an annual

The local appliance store has a clothes dryer selling for $2772, with payment due 7 years from today. The store is willing to discount the price at an annual rate of 8 percent (compounded annually) if you pay today. What is the amount if you pay for the clothes dryer today?

Round the answer to two decimal places.

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Finance Basics: The store is willing to discount the price at an annual

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