Ray and Rachel are considering the purchase of two deluxe kitchen ovens. The first store...
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Ray and Rachel are considering the purchase of two deluxe kitchen ovens. The first store offers the two ovens for $1,800 with payment due today. The second store offers the two ovens for $2,000 due in one year.
| 1. Assuming an annual discount rate of 8%, calculate the present value of both ovens. (FV of $1, PV of $1, FVA of $1, and PVA of $1)
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