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How much total interest will coronado pay on payment plan

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Question : Coronado Excavating Inc. is purchasing a bulldozer. The equipment has a price of $95,100. The manufacturer has offered a payment plan that would allow Coronado to make 11 equal annual payments of $13,321.27, with the first payment due one year after the purchase.

Problem 1: How much total interest will Coronado pay on this payment plan?

Reference no: EM132462291

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