On December 31, Belh Klemkosky bought a yacht for $100,000 She paid $14,000 down and agreed to pay the balance in 15 equal annual installments that Include both the pnnclpal and 15 percent interest on the declrnlng balance How big WIH the arm ual payments be?
a. On December 31' Beth Klemkosky bought a yacht for $100,000 and paid $14,000 down' how much does she need to borrow to purchase the yacht? ES (Round lo the nearest dollar)