Question: Exercise C - 6 ( Algo ) Calculate the present value of a single amount ( LO C - 3 ) Ray and Rachel are

Exercise C-6(Algo) Calculate the present value of a single amount (LO C-3)
Ray and Rachel are considering the purchase of two deluxe kitchen ovens. The first store offers the two ovens for $1,700 with payment due today. The second store offers the two ovens for $1,900 due in one year.
Required:
1-a. Assuming an annual discount rate of 10%, calculate the present value.
1-b. From which store should Ray and Rachel buy their ovens?

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