Express Trucking has decided to buy a new computer system with an expected life of three years The cost is $180,000 The company can borrow $180,000 for three years at 10 percent annual interest or for one year at 8 percent annual interest. What would be the total interest cost compared to the 10 percent, three-year loan?

Answer rating: 100% (QA)

ANSWER True interest cost is the real cost of putting off a mortgage actual interest fee includes al... View the full answer