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(Loan amortization) Mr. Bill S. Preston, Esq., purchased a new house for $100,000. He paid $10,000 down and agreed to pay the rest over the
(Loan amortization) Mr. Bill S. Preston, Esq., purchased a new house for $100,000. He paid $10,000 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? The equal payments will be s (Round to the nearest cent)
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