PLEASE HELP ME ANSWER PART B $-$

Vaughn Excavating Inc. is purchasing a bulldozer. The equipment has a price of $$104,300.$ The manufacturer has offered a payment

plan that would allow Vaughn to make $10$ equal annual payments of $$18,490\mathrm{.}00,$ with the first payment due one year after the

purchase.

$($a$)$

Your answer is correct.

How much total interest will Vaughn pay on this payment plan? $($Round answer to $0$ decimal places, e$.$g$.5,125.)$

Total interest $

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$($b$)$

Your answer is partially correct.

Vaughn could borrow $$104,300$ from its bank to finance the purchase at an annual rate of $9\%.$

Click here to view factor tables.

Should Vaughn borrow from the bank or use the manufacturer's payment plan to pay for the equipment? $($Round factor values to $5$

decimal places, e$.$g$.1\mathrm{.}25124$ and final answer to $0$ decimal places, e$.$g$.7\%.)$

Manufacturer's rate

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