If you buy a factory for $250,000 and the terms are 20 percent down, the balance to paid off over 30 years at a 12 percent rate of interest on the unpaid balance, what are the 30 equal annual payments.?
If you buy a factory for $250,000 and the terms are 20 percent down, the balance to paid off over 30 years at a 12 percent rate of interest on the unpaid balance, what are the 30 equal annual payments.?
Purchase consideration for the facor, S = $ 250,000
Down payment = 20%
Yoour own contribution = Down payment = 20% x S = 20% x 250,000 = $ 50,000
Mortgage amount, M = Purchase consideration - Down payment = S - 50,000 = 250,000 - 50,000 = $ 200,000
Terms and conditions of mortgage:
- Frequency: Annual payments
- Interest rat...
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