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plz use excel to solve that and show the formula Argent wishes to purchase a new truck. They have approached three different dealers for quotes.
plz use excel to solve that and show the formula
Argent wishes to purchase a new truck. They have approached three different dealers for quotes. Dealer A has quoted them a new truck at a price of $65,000, with financing for 8 years at a rate of 4%. Dealer B has quoted them a new truck at a price of $68,000, with financing for 9 years at a rate of 6%. Dealer C has quoted them a new truck at a price of $62,000, with financing for 7 years at a rate of 5%. Argent wants to take the truck with the lowest annual payment to help preserve cash flow in the company. Required: (5 marks) Calculate the annual payment for each of these offers, and recommend the offer that Argent should accept. Show the result for each offer Step by Step Solution
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