On december 31 george smith buys a building for 175000, Ask an Expert

Finance

On December 31, George Smith buys a building for $175,000, paying 20 percent down and agreeing to pay the balance in 20 equal annual installments that are to include principal plus 15 percent compound interest on the declining balance.

How much are the equal installments?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92095186

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