Math homework help needed

Accounting
Tutor: None Selected Time limit: 1 Day

If you buy a factory for $250,000 and the terms are 20% down, the balance to be paid off over 30 years at 12% rate of interest on unpaid balance, what are the 30 equal annual payments? (Round to nearest whole dollar)

Jun 20th, 2015

Dear your question is under-progress, it would be available to you as soon as it completes within next few minutes.


Jun 20th, 2015

Answer is $24,829

Amortization 

Financial calculator solution:

Inputs: N = 30; I = 12; PV = -200,000; FV = 0.

Output: PMT = $24,828.73 รท $24,829.


Jun 20th, 2015

Did you know? You can earn $20 for every friend you invite to Studypool!
Click here to
Refer a Friend
...
Jun 20th, 2015
...
Jun 20th, 2015
Feb 21st, 2017
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer