You purchased a boat for $300,000 and agreed to pay the amount over the next 10...

 

Transcribed Image Text:

You purchased a boat for $300,000 and agreed to pay the amount over the next 10 years an equal payment at the end of every year. Assuming that the discount rate is 12%, what will be the yearly payment? You purchased a boat for $300,000 and agreed to pay the amount over the next 10 years an equal payment at the end of every year. Assuming that the discount rate is 12%, what will be the yearly payment?

Answer rating: 100% (QA)

Answer Equal Annual i... View the full answer