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Concord Excavating Inc. is purchasing a bulldozer. The equipment has a price of $91,400. The manufacturer has offered a payment plan that would allow Concord

Concord Excavating Inc. is purchasing a bulldozer. The equipment has a price of $91,400. The manufacturer has offered a payment plan that would allow Concord to make7equal annual payments of $18,774.06, with the first payment due one year after the purchase.

How much total interest will Concord pay on this payment plan?

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