Question: A new machine will cost $ 5 0 , 0 0 0 . The vendor offered 1 0 0 % financing at 8 % annual

A new machine will cost $50,000. The vendor offered 100% financing at 8% annual interest over 10 years. What is the annual payment?
Pick one choice from A to E and show work.
A) $3,333
B) $7,450
C) $8,125
D) $10,500
E) $11,222

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