Three office furniture firms that offer different payment plans have responded to a request for bids from a state agency.
Price payment schedule
Office more $185,000 50% now, 25% in 6 months
25% in 1 year
Office more 182,000 50% now, 50% in 6 months
Office more 198,000 100% in 1 year
a) Develop a choice table for nominal interest rates from 0% to 50%
b) if the agency's MARR is 10%, which vendor's plan is preferred?