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How much total interest will Blossom pay on payment plan

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Question - Blossom Excavating Inc. is purchasing a bulldozer. The equipment has a price of $106,000. The manufacturer has offered a payment plan that would allow Blossom to make 12 equal annual payments of $14,802.96, with the first payment due one year after the purchase.

Required - How much total interest will Blossom pay on this payment plan?

Reference no: EM132557806

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