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On December 31, Peter buys a building for $80,000, paying 20% down and agreeing to pay the balance in 15 equal annual installments that are

  1. On December 31, Peter buys a building for $80,000, paying 20% down and agreeing to pay the balance in 15 equal annual installments that are to include principal plus 10% compound interest on the declining balance. What are the equal installments?

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