Question: Mr Bill S Preston Esq purchased a new house for

Mr. Bill S. Preston, Esq., purchased a new house for $80,000. He paid $20,000 up front on the down payment and agreed to pay the rest over the next 25 years in 25 equal annual payments that include principal payments plus 9 percent compound interest on the unpaid balance. What will these equal payments be?


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  • CreatedOctober 31, 2014
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