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    Computation of Annual Payment Amount

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    Question: If you buy a factory for $250,000 and the terms are 20 percent down with the balance to be paid off over 30 years at a 12 percent rate of interest, the equal annual payments are about ___? Please solve.

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    Question reiterated:
    If you buy a factory for $250,000 and the terms are 20 percent down with the balance to be ...

    Solution Summary

    This solution concisely illustrates all of the steps required in order to solve for annual payments made on a purchase to be paid off in a specified time span. All calculations are provided, along with a description of all the variables needed.

    $2.19

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