Question: A choice farmer must purchase a tractor using a loan of $20,000. The bank has offered the following choice of payment plans each determined by
A choice farmer must purchase a tractor using a loan of $20,000. The bank has offered the following choice of payment plans each determined by using a loan of S20000 The bank has offered the following choice of payment plans each determined by using an interest rate of 8%, which plan should he choose at an interest rate of 15%2 Plan A. S5010 per year for 5 years Plan B S2.956 per year for 4 years plus S 15,000 at the end of 5 years Plan : Nothing for 2 years, then $9,048 per year for 3 years] O a Plan A ($17,228) Ob Plan C ($15,618) c. Plan A ($16,794) O d Plan B ($15,897) A choice farmer must purchase a tractor using a loan of $20,000. The bank has offered the following choice of payment plans each determined by using a loan of S20000 The bank has offered the following choice of payment plans each determined by using an interest rate of 8%, which plan should he choose at an interest rate of 15%2 Plan A. S5010 per year for 5 years Plan B S2.956 per year for 4 years plus S 15,000 at the end of 5 years Plan : Nothing for 2 years, then $9,048 per year for 3 years] O a Plan A ($17,228) Ob Plan C ($15,618) c. Plan A ($16,794) O d Plan B ($15,897)
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