Question: write answers on top and paste in text, not just excel photo. Also show formula text after the answer. 1. A store offers two payment

write answers on top and paste in text, not just excel photo. Also show formula text after the answer.

1. A store offers two payment plans. Under the installment plan, you pay 25% down and 25% of the purchase price in each of the next 3 years. If you pay the entire bill immediately, you can take a 10% discount from the purchase price. Assume the product sells for $1000. a .Calculate the present value of the payments, if you can borrow or lend funds at an interest rate of 5 percent. Which is a better deal? b. Calculate the present value, if the payments on the 4-year installment plan do not start for a full year. Which is a better deal?

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