Question: Solve this question using a Financial Calculator E6.11 (LO 4) (Evaluation of Purchase Options) Rizzo Excavating Inc. is purchasing a bulldozer. The equipment has a

Solve this question using a Financial Calculator

E6.11 (LO 4) (Evaluation of Purchase Options) Rizzo Excavating Inc. is purchasing a bulldozer. The equipment has a price of $100,000. The manufacturer has offered a payment plan that would allow Rizzo to make 10 equal annual payments of $16.274.53, with the first payment due one year after the purchase, Instructions a. How much total interest will Rizzo pay on this payment plan? b. Rizzo could borrow $100,000 from its bank to finance the purchase at an annual rite of 9%. Should Rizzo borrow from the bank or use the manufacturers payment plan to pay for the equipment

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