Please break down the work for this problem so I can figure out how to solve similar questions.

You've decided to buy a new computer that costs $1,500. But Best Buy will let you take the computer home without making paying the full price immediately. Rather, Best Buy will let you pay $500 now, and $500 at the end of each of the next two years. Your bank offers you a savings account that earns 2% annually, and a two-year certificate of deposit (CD) that earns 5% annually. Note that to earn the 5% on the CD, you have to leave your money there for the full two years. How much money do you need today to make sure you can make all the payments to Best Buy? 1470.78 1429.71 1500 1443.71