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August 30, 2014

Homework Help: accounting

Posted by chris on Saturday, March 16, 2013 at 6:40pm.

Dan and Joan want to buy an airplane. They find one that will cost $200,000. They must pay 10% down, and can get the balance financed with a 10 year loan at 7% interest and annual payments. What is their annual payment?
Answer

$26,826

$25,626

$24,457

$19,260

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