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The local electronics store is offering a promotion​ "1-year: same as​ cash," meaning that you can buy a tv​ now, and wait a year to pay​ (with no​ in

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jepessoa

Answer:

$961.54

Explanation:

To calculate the real price of the TV you would have to determine the present value of the TV's price. The future price of the TV is $1,000 and your discount rate is 4% annual (the same as your bank), so the present value of the TV =

present value = future value / (1 + rate) = $1,000 / 1.04 = $961.54

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