question archive You are purchasing a new $65,000 lathe for your machine shop
You are purchasing a new $65,000 lathe for your machine shop
Subject:AccountingPrice:9.82 Bought3
You are purchasing a new $65,000 lathe for your machine shop. The manufacturer has offered to finance it for you at 2.9% over 60 months or to give you a $3,000 cash discount. What is the true cost of the manufacturer financing?
Group of answer choices
2.9%
4.83%
3.93%
9.43%
Option 1
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9.82 USD
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Option 2
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