Answer to Question #140358 in Finance for Jenelle Daniel

Question #140358
On December 31, 2019, Speedo’s Limited bought a yacht for $55,000, but made a down payment of $10,000. Speedo’s agreed to pay the balance in 10 equal end-of-year instalments and 10% interest on the declining balance. Calculate the annual payments.
1
Expert's answer
2020-10-30T13:05:59-0400

The annual payment is:


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