What is the amount if you pay for the washing machine today, Financial Accounting

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What is the amount if you pay for the washing machine today

Problem

The local home improvement store has a washing machine on sale for $1,388, with the payment due in 1 year(s) 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 washing machine today?

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Financial Accounting: What is the amount if you pay for the washing machine today

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Financial Accounting: What is the amount if you pay for the washing machine today

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