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Exercise 6-11 Tamarisk Excavating Inc. is purchasing a bulldozer. The equipment has a price of $92,100. The manufacturer has offered a payment plan that would
Exercise 6-11 Tamarisk Excavating Inc. is purchasing a bulldozer. The equipment has a price of $92,100. The manufacturer has offered a payment plan that would allow Tamarisk to make 10 equal annual payments of $15,638.71, with the first payment due one year after the purchase. How much total interest will Tamarisk pay on this payment plan? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to O decimal places, e.g. 458,581.) Total interest LINK TO TEXT Tamariskcould borrow $92,100 from its bank to finance the purchase at an annual rate of 9%. Click here to view factor tables Should Tamarisk 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 % LINK TO TEXT
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