1. Sosa Excavating Inc. is purchasing a bulldozer. The equipment has a price of $107,000....
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Accounting
1. Sosa Excavating Inc. is purchasing a bulldozer. The equipment has a price of $107,000. The manufacturer has offered a payment plan that would allow Sosa to make 11 equal annual payments of $18,020, with the first payment due one year after the purchase. How much total interest will Sosa pay on this payment plan?
2. Sally Medavoy will invest $8,050 a year for 20 years in a fund that will earn 10% annual interest. If the first payment into the fund occurs today, what amount will be in the fund in 20 years?
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