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The local electronics store is offering a promotion, one year: same as cash, meaning that you can buy a TV now and wait a year

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The local electronics store is offering a promotion, "one year: same as cash," meaning that you can buy a TV now and wait a year to pay (with no interest). So, if you take home a $1300 TV today, you will owe them $1300 in one year. If your bank is offering 3% interest, what is the true cost of the TV to you today? The cost of the TV today is $. (Round to the nearest cent.)

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