Mr. Dayvos Bay has just purchased a new house for ($300,000.) He paid ($30,000) down payment and

Question:

Mr. Dayvos Bay has just purchased a new house for $$300,000.$ He paid $$30,000$ down payment and agreed to pay the rest over the next 25 years in 25 equal end-of-year payments plus 10 percent compound interest over the unpaid balance. What will these equal payments be?

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