How much total interest will sosa pay on this payment plan

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Reference no: EM131220545

(Part Level Submission) Sosa Excavating Inc. is purchasing a bulldozer. The equipment has a price of $102,000. The manufacturer has offered a payment plan that would allow Sosa to make 15 equal annual payments of $14,185, with the first payment due one year after the purchase. Collapse question part

(a) How much total interest will Sosa pay on this payment plan? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

Total interest $______

Reference no: EM131220545

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