What are the equal annual payments
Problem:
You are buying a factory for $275,000 by paying 20% as a down payment, while the rest of the balance will be paid off over 30 years at a 10% interest rate. What are the 30 equal annual payments?
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While the rest of the balance will be paid off over 30 years at a 10% interest rate. What are the 30 equal annual payments?
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After 36 payments (3 years) what will be the remaining balance of the mortgage?
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