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Windsor Excavating Inc. is purchasing a bulldozer. The equipment has a price of $95,300. The manufacturer has offered a payment plan that would allow Windsor
Windsor Excavating Inc. is purchasing a bulldozer. The equipment has a price of $95,300. The manufacturer has offered a payment plan that would allow Windsor to make 10 equal annual payments of $16,900.00, with the first payment due one year after the purchase. (a) Your answer is correct. How much total interest will Windsor pay on this payment plan? (Round answer to 0 decimal places, e.g. 5,125.) Total interest \$ eTextbook and Media Attempts: 1 of 3 used (b) Your answer is partially correct. Windsor could borrow $95,300 from its bank to finance the purchase at an annual rate of 9%. Click here to view factor tables. Should Windsor 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 %
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