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On December 31, Beth Klemkosky bought a yacht for $70 000. She paid $20 000 down and agreed to pay the balance in 10 equal
On December 31, Beth Klemkosky bought a yacht for $70 000. She paid $20 000 down and agreed to pay the balance in 10 equal annual installments that include both the principal and 8 percent interest on the declining balance. How big will the annual payments be?
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