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What observations can draw about the investment

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My doctor decided that on December 31st he is going to purchase new building at $225,000. He agrees' to put 20% down and make 18 equal annual installments that are to include the principle plus 15% compounding interest on the declining balance.

Question 1: How much are the equal installments?

Question 2: What are the total payments of this investment?

Question 3: What observations can you draw about this investment?

Reference no: EM132504372

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