Loan amortization mr bill s preston esq purchased a new, Ask an Expert

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(Loan amortization) Mr. Bill S. Preston, Esq., purchased a new house for $80,000. He paid $20,000 down and agreed to pay the rest over the next 25 years in 25 equal end-of-year payments plus 9 percent compound interest on the unpaid balance. What will these equal payments be?

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