1) Some laboratory equipment sells for $85,000. The manufacturer offers financing at 6% with annual payments for 5 years for up to $65,000 of the cost. The salesman is willing to cut the price by 10% if you pay cash. What is the interest rate you would pay by financing? 

Answer rating: 100% (QA)

Solution To calculate the interest rate you would pay by financing we need to calculate the total co... View the full answer