Amos Excavating Inc. is purchasing a bulldozer. The equipment has a price of $100,000. The manufacturer has
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(a) How much total interest will Amos pay on this payment plan?
(b) Amos could borrow $100,000 from its bank to finance the purchase at an annual rate of 8%. Should Amos borrow from the bank or use the manufacturer’s payment plan to pay for the equipment?
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