Asked by Andrew Oriold on Jun 02, 2024

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A large retail store offers no payments, no interest for six months on all furniture and appliance purchases exceeding $1,500. If money can earn 3.5%, how much should the store accept as a payment today on furniture costing $1,850?

Retail Store

A business establishment that sells goods and services directly to consumers, typically at a markup from wholesale prices.

Interest

The fee for borrowing funds or the reward for lending them, often stated as a percentage of the initial sum.

Furniture

Movable objects intended to support various human activities such as seating, eating, and sleeping.

  • Comprehend and utilize the concepts of simple and compound interest.
  • Apply time value of money principles to real-world financial decisions.
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ZK
Zybrea KnightJun 05, 2024
Final Answer :
$1,818.18