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Vaughn Excavating Inc. is purchasing a bulldozer. The equipment has a price of $97,600. The manufacturer has offered a payment plan that would allow Vaughn
Vaughn Excavating Inc. is purchasing a bulldozer. The equipment has a price of $97,600. The manufacturer has offered a payment plan that would allow Vaughn to make 10 equal annual payments of $15.883.95, with the first payment due one year after the purchase. X Your answer is incorrect. How much total interest will Vaughn pay on this payment plan? (Round factor values to 5 decimal places, eg. 1.25124 and final answer to O decimal places, eg. 458.5811 Total interest 5.01877 Your answer is partially correct Vaughcould borrow $97.600 from its bank to finance the purchase at an annual rate of 9% Click here to view factor tables - Should Vaughn borrow from the bank or use the manufacturer's payment plan to pay for the equipment? (Round factor values to S decimal places, eg 1.25124 and final answer to O decimal places, eg 7%) Manufacturer's rate Burrow from the Ran 15.00 %
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