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Exercise 6-11 (Part Level Submission) Stellar Excavating Inc. is purchasing a bulldozer. The equipment has a price of $95,100. The manufacturer has offered a payment
Exercise 6-11 (Part Level Submission) Stellar Excavating Inc. is purchasing a bulldozer. The equipment has a price of $95,100. The manufacturer has offered a payment plan that would allow Stellar to make 10 equal annual payments of $16,148.12, with the first payment due one year after the purchase. (a) Your answer is correct. How much total interest will Stellar pay on this payment plan? (Round answer to o decimal places, e.g. 458,581.) Total interest 66381 Click if you would like to Show Work for this question: Open Show Work Your answer is partially correct. Try again. Stellarcould borrow $95,100 from its bank to finance the purchase at an annual rate of 9%. Click here to view factor tables Should Stellar borrow from the bank or use the manufacturer's payment plan to pay for the equipment? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 7%.) Manufacturer's rate Borrow from the Bank Click if you would like to Show Work for this question: Open Show Work
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