On december 31 beth klemkosky bought a yacht for 50000and, Ask an Expert

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On December 31, Beth Klemkosky bought a yacht for $50,000and paid $12,000 down and agreed to pay the balalnce in 14 equal annual installments that include both the principal and 9 percent interest on the declining balance. How big will the annual payments be? how much does she need to borrow to purchase the yacht? (please show work on how you got to the answer)

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Financial Management, Finance

Category:- Financial Management
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