What will these equal payments be

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Reference no: EM13974510

Mr. Bill. S. Preston, Esq., purchased a new house for $100,000. He paid $15,000 upfront and agreed to pay the rest over the next 10 years in 10 equal annual payments that include principal payments plus 13 percent compound interest on the unpaid balance. What will these equal payments be? B) If Bill agrees to pay the loan over the next 10 years in 10 equal end-of-year- payments plus 13 percent compound interest on the unpaid balance, what will these equal payments be? Please show the formula for the answer.

Reference no: EM13974510

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