On December 31, Beth Klemkosky bought a yacht for $50 comma 50,000. She paid $10 comma 10,000 down and agreed to pay the balance in 10 equal annual installments that include both the principal and 10 percent interest on the declining balance. How big will the annual payments be?

On December 31, Beth Klemkosky bought a yacht for $50 comma 50,000 and paid $10 comma 10,000 down, how much does she need to borrow to purchase the yacht?