Financing and accounting-annual payments


Problem: John Doeber borrowed $125,000 to buy a house. His loan cost was 11% and he promised o repay the loan in 15 equal annual payments.

How much are the annual payments?

A) $3,633 B)

$9,250

C) $13,113

D) $17,383

Solution Preview :

Prepared by a verified Expert
Accounting Basics: Financing and accounting-annual payments
Reference No:- TGS01936023

Now Priced at $20 (50% Discount)

Recommended (91%)

Rated (4.3/5)