Question
Mr. Bill S. Preston, Esq., purchased a new house for 80 000 dollars. He paid 20 000 dollars down and agreed to pay the rest
Mr. Bill S. Preston, Esq., purchased a new house for 80 000 dollars. He paid 20 000 dollars down and agreed to pay the rest over the next 25 years in 25 equal end of year payments plus 9 percent compound interest on the unpaid balance . What will these equal payments be?
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Financial Management Principles and Applications
Authors: Sheridan Titman, Arthur Keown, John Martin
12th edition
133423824, 978-0133423822
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