Question: HW 2A Question 5 This set of problems is designed to be calculated using the Excel or financial calculator . You can also use algebraic

HW 2A

Question 5

This set of problems is designed to be calculated using the Excel or financial calculator. You can also use algebraic formulas. Do not use financial tables to calculate these problems.

The local home improvement store has a washing machine on sale for $766, with the payment due in 2 year(s) from today. The store is willing to discount the price at an annual rate of 7 percent (compounded annually) if you pay today. What is the amount if you pay for the washing machine today?

Round the answer to two decimal places

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