Suppose that instead of leasing the bulldozer,the company is considering purchasing a bulldozer outright by borrowing the purchase price using a four-year annuity loan.The monthly loan payments for a four-year loan to purchase the Bulldozer are closest to:
A)$2,115
B)$1,825
C)$1,870
D)$1,750
E)$1,945

Question

Quizplus · Accepted Answer

The correct answer is A because the monthly loan payments for a four-year loan to purchase the Bulldozer are closest to $2,115.

Suppose That Instead of Leasing the Bulldozer,the Company Is Considering