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PLEASE HELP! **Please use numbers given** Please answer both parts of question. I tried posting this question before and I did receive an answer of
PLEASE HELP! **Please use numbers given** Please answer both parts of question. I tried posting this question before and I did receive an answer of $20,389.85 and $20,390. I tried entering both answers in and it stated it was incorrect which means I have one more chance to enter it before it marks it completely wrong, I did reply to the comment but I never received an answer back. All my questions for my subscription have been used so now I am paying again to post these so I hope I get the right answer this time! Thank you, Thank you, Thank you in advance!! :)
(Related to Checkpoint 6.1) (Loan amortization) On December 31, Beth Klemkosky bought a yacht for $90,000. She paid $20,000 down and agreed to pay the balance in 5 equal annual installments that include both the principal and 14 percent interest on the declining balance. How big will the annual payments be? a. On December 31, Beth Klemkosky bought a yacht for $90,000 and paid $20,000 down, how much does she need to borrow to purchase the yacht? (Round to the nearest dollar.)Step by Step Solution
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