Mr. Bill S. Preston, Esq., purchased a new house for $140 000. He paid $20 000 upfront and agreed to pay the rest over the next 30 years in 30 equal annual payments that include principal payments plus 9 percent compound interest on the unpaid balance. What will these equal payments be? a.Mr. Bill S. Preston, Esq., purchased a new house for $140 000 and paid $20 000 upfront. How much does he need to borrow to purchase the house?