Engineering, 09.11.2021 15:50 debrielcalderon
A certain piece of equipment has a list price of $120,000. The manufacturer offers two options for paying for the equipment.
Option A: An initial down payment of $20,000 plus additional payments of $20,000 per year at the end of each of the next six years.
Option B: A single payment of $108,000 at the time of purchase (i. e., a 10% discount for paying in cash).
(a) What annual interest rate would you be paying if you selected Option A?
(b) What is the implicit annual interest rate associated with the financing offered in Option A when compared against the discount offered in Option B?
Answers: 1
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A certain piece of equipment has a list price of $120,000. The manufacturer offers two options for p...
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