question 11

Question 12 (3 points) I want to buy a lakefront store in the new development coming up next to Possum Lake. The store costs $100,000 and the bank offered me a loan if I pay 20% down payment. Assuming I borrow the other 80% at 9.64% interest rate to be repaid over 30 equal annual payments, what would the amount of each of these annual payments? 8233 06237 10000 7106