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Should ivanhoe borrow from the bank or use manufacturer

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Reference no: EM132324887

Question

Ivanhoe could borrow $108,100 from its bank to finance the purchase at an annual rate of 11%.

Should Ivanhoe borrow from the bank or use the manufacturer's payment plan to pay for the equipment? (Round answer to 0 decimal places, e.g. 7%.)

Manufacturer's rate %

Use Manufacturer's Payment Plan

Borrow from the Bank

Reference no: EM132324887

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