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buying a factory

You are buying a factory for $275,000 by paying 20% as a down payment, while the rest of the balance will be paid off over 30 years at a 10% interest rate. What are the 30 equal annual payments?

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You are buying a factory for $275,000 by paying 20% as a down payment, while the rest of the balance will be paid off over 30 years at a 10% interest rate. What are the 30 equal annual payments?

First, ...

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This solution is comprised of a detailed explanation to answer what are the 30 equal annual payments.

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