A construction company borrow $30,000 to purchase a truck. The bank has offered the following choice of payment plans. If the interest rate is 15%, which plan the company should choose? Use present...

A construction company borrow $30,000 to purchase a truck. The bank has offered the following choice of payment plans. If the interest rate is 15%, which plan the company should choose? Use present worth analysis.

Plan A: $5010 per year for 5 years

Plan B:No payment for first 2 years, then $9048 per year for rest of 3 years.