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Ray and Rachel are considering the purchase of two deluxe kitchen ovens. The first store offers the two ovens for $1,900 with payment due today.
Ray and Rachel are considering the purchase of two deluxe kitchen ovens. The first store offers the two ovens for $1,900 with payment due today. The second store offers the two ovens for $2,100 due in one year. Required: 1-a. Assuming an annual discount rate of 9%, calculate the present value. 1-b. From which store should Ray and Rachel buy their ovens? Complete this question by entering your answers in the tabs below. Assuming an annual discount rate of 9%, calculate the present value. Note: Use tables, Excel, or a financial calculator. Round your answers to 2 decimal places. (FV of $ and PVA of $1 )
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