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A new machine will cost $50,000. The vendor offered 100% financing at 8% annual interest...

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Accounting

A new machine will cost $ $50, 000 .$ The vendor offered $100 %$ financing at $8 %$ annual interest over $10$ years. What is the annual payment?

Pick one choice from A to E and show work.

A $)$ $ $3, 333$

B $)$ $ $7, 450$

C $)$ $ $8, 125$

D $)$ $ $10, 500$

E $)$ $ $11, 222$

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