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Leon's has a "Don't Pay For One Year" event on right now at the store, so you purchase ...

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Leon's has a "Don't Pay For One Year" event on right now at the store, so you purchase ...

Leon's has a "Don't Pay For One Year" event on right now at the store, so you purchase an Italian, hand-stitched leather sofa. You will pay $1,267.99 for the sofa in one year. You have a savings account that pays 3% annual interest. How much must you deposit in your account today in order to have enough money to pay for the sofa in one year?
A) $1,231.06
B) $1,267.99
C) $1,195.20
D) $1,230.56
E) $1,337.21

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Corporate Finance Online

Edition: 1^st

Authors: Eakins, McNally

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We're using: Corporate Finance Online (Eakins, McNally)

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More solutions for this book are available here

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Pol. Sci. Major
Minoring in Business
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bigexternal Author

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7 years ago

Firstly, thank you for responding
Secondly, ur right!

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We're using: Corporate Finance Online (Eakins, McNally)

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