The furniture store offers you no-money-down on a new set of living room furniture.Further,you may pay for the furniture in three equal annual end-of-the-year payments of $1,000 each with the first payment to be made one year from today.If the discount rate is 6%,what is the present value of the furniture payments?
A)$3,183.60
B)$3,000.00
C)$2,833.39
D)$2,673.01

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The Answer of The furniture store offers you no-money-down on a new set of living room furniture.Further,you may pay for the furniture in three equal annual end-of-the-year payments of $1,000 each with the first payment to be made one year from today.If the discount rate is 6%,what is the present value of the furniture payments?
A)$3,183.60
B)$3,000.00
C)$2,833.39
D)$2,673.01

The Furniture Store Offers You No-Money-Down on a New Set