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How much total interest will Sosa pay on this payment plan?

Accounting
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Sosa Excavating Inc. is purchasing a bulldozer.The equipment has a price of $100,000. The manufacturer has offered a payment plan that would allow Sosa to make 10 equal annual payments of $16,274.53, with the first payment due 1 yr after the purchase

Mar 8th, 2015

initial price=100000

16274.52*10=162745.3

162745.3-100000=62745.3

interest=62745.3

Mar 8th, 2015

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