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Larkspur Excavating Inc. is purchasing a bulldozer. The equipment has a price of $104,300. The manufacturer has offered a payment plan that would allow Larkspur

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Larkspur Excavating Inc. is purchasing a bulldozer. The equipment has a price of $104,300. The manufacturer has offered a payment plan that would allow Larkspur to make 10 equal annual payments of $18.490.00, with the first payment due one year after the purchase. 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 decimal places, e.g. 458,581.) Total interest $ Larkspurcould borrow $104,300 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, eg. 1.25124 and final answer to decimal places, eg. 7%.) Manufacturer's rate %

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