Question: ( Loan amortization ) Mr . Bill S . Preston, Esq., purchased a new house for ( $ 1 4 0 , 0

(Loan amortization) Mr. Bill S. Preston, Esq., purchased a new house for \(\$ 140,000\). He paid \(\$ 20,000\) down and agreed to pay the rest over the next 10 years in 10 equal end-of-year payments plus 13 percent compound interest on the unpaid balance. What will these equal payments be?
The equal payments will be \(\$ \quad \).(Round to the nearest cent.)
( Loan amortization ) Mr . Bill S . Preston,

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