The paper "The Process of Buying a Caterpillar 950H" is a great example of a finance and accounting assignment. The interest rate has to be factored in because it is used to determine how much will be paid at the end of the day. We have two common types of interest rate. They include the variable rate and fixed rate. The variable rate keeps on changing and can increase or reduce depending on the various market forces while the fixed rate does not. When the interest rate is lowered, that will definitely help in the reduction of the total amount to be paid and the opposite is also true.
While putting together this report we assumed that the interest rates will remain constant. In our case, we assumed that the interest rate will be low so that the caterpillar can be bought at a slightly lower cost. 3 INTRODUCTION These days the process of buying a caterpillar 950H has increasingly become very complicated in the sense that there are so many in the market and distinguishing one from the other is a bit of a problem.
This is because different manufacturers from different countries for instance France and Belgium have different makes of the same machine. Different people have different needs and specification when it comes to what they are looking for in a not just good but strong Caterpillar 950H. However, one of the biggest problems has been that most individuals and organizations lack adequate cash to procure the best Caterpillar 950H which always turns out to be extremely expensive and quite a fortune can be spent to acquire one. They range from 70,000€ -100,000€ .
According to Park, C S, (2007), many people have always had to settle for that which is not what they really desire but for the sake of convenience. And again many people have always lacked the best advice in regard to where and how to access financial advice. Because of that, most banking organizations and related financial institutes have come up with attractive products and services to lure people into approaching them to not only provide advice but also loan facilities to purchase heavy machinery like the Caterpillar 950H with the best specifications at affordable prices.
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