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Larkspur Excavating Inc. is purchasing a bulldozer. The equipment has a price of $108,100. The manufacturer has offered a payment plan that would allow Larkspur
Larkspur Excavating Inc. is purchasing a bulldozer. The equipment has a price of $108,100. The manufacturer has offered a payment plan that would allow Larkspur to make 10 equal annual payments of $17,592.78, with the first payment due one year after the purchase. Your answer is correct. How much total interest will Larkspur 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 67827.80 eTextbook and Media Your answer is partially correct. Larkspurcould borrow $108,100 from its bank to finance the purchase at an annual rate of 9%. Click here to view factor tables Should Larkspur 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
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