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How much total interest will Headland pay

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Question - Headland Excavating Inc. is purchasing a bulldozer. The equipment has a price of $103,600. The manufacturer has offered a payment plan that would allow Headland to make 8 equal annual payments of $19,419.19, with the first payment due one year after the purchase.

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

Reference no: EM132576599

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