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How much total interest will waterway pay

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Question - Waterway Excavating Inc. is purchasing a bulldozer. The equipment has a price of $99,800. The manufacturer has offered a payment plan that would allow Waterway to make 14 equal annual payments of $14,294.16, with the first payment due one year after the purchase.

How much total interest will Waterway pay on this payment plan?

Reference no: EM131563122

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