You purchase a house for ($250),000 directly from the buyer who owns the home outright. You pay
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You purchase a house for \($250\),000 directly from the buyer who owns the home outright. You pay a 20 percent down payment. You sign a first mortgage, and the buyer agrees to finance the remaining \($200\),000 at 7 percent annual compound interest with annual end-of-year payments over 12 years. How much is a single yearly payment?
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Principles Of Engineering Economic Analysis
ISBN: 9781118163832
6th Edition
Authors: John A. White, Kenneth E. Case, David B. Pratt
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