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(Loan amortization) Mr. Bill S. Preston, Esq. purchased a new house for $180,000. He paid $30,000 down and agreed to pay the rest over the

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(Loan amortization) Mr. Bill S. Preston, Esq. purchased a new house for $180,000. He paid $30,000 down and agreed to pay the rest over the next 30 years in 30 equal end-of-year payments plus 14 percent compound interest on the unpaid balance. What will these equal payments be? The equal payments will be $ (Round to the nearest cent.)

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