A company must purchase new equipment costing $\backslash (\backslash$$ $2000\backslash ).$ The company can pay cash on the basis of the purchase price or make payments of $\backslash (\backslash$$ $108\backslash )$ at the end of each month for $24$ months. Interest is $\backslash (7\mathrm{.}8\backslash \%\backslash )$ compounded monthly Should the company purchase the new equipment with cash now or make payments on the installment plan?