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Exercise 6-11 Pearl Excavating Inc. is purchasing a bulldozer. The equipment has a price of $107,700. The manufacturer has offered a payment plan that would
Exercise 6-11 Pearl Excavating Inc. is purchasing a bulldozer. The equipment has a price of $107,700. The manufacturer has offered a payment plan that would allow Pearl to make 15 equal annual payments of $14,977.33, with the first payment due one year after the purchase How much total interest will Pearl pay on this payment plan? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.) Total interest s Pearl could borrow $107,700 from its bank to finance the purchase at an annual rate of 10%. Click here to view factor tables Should Pearl borrow from the bank or use the manufacturer's payment plan to pay for the equipment? (Round answer to O decimal places, e.g. 7% Manufacturer's rate Borrow from the Bank Use Manufacturer's Payment Plan w Work for this question: Open Show Work
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