On December 31, Beth Klemkosky bought a yacht for $90,000. She paid $18,000 down and agreed...

Question

Question

On December 31, Beth Klemkosky bought a yacht for $90,000. She paid $18,000 down and agreed...

On December 31, Beth Klemkosky bought a yacht for

$90,000.

She paid

$18,000

down and agreed to pay the balance in

11

equal annual installments that include both the principal and

13

percent interest on the declining balance. How big will the annual payments be?

a. On December 31, Beth Klemkosky bought a yacht for

$90,000

and paid

$18,000

down, how much does she need to borrow to purchase the yacht?

$

(Round to the nearest dollar.)

business accounting

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Answer 1

Answer #1

In 1 year , Beth Klemkosky pay maximum amount - 15905.45.

She need to borrow . case 1 - she borrow ( principal + interest ) - 128160.09. case 2 - she borrow only principal - 72000

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Answer 2

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On December 31, Beth Klemkosky bought a yacht for $90,000. She paid $18,000 down and agreed...

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On December 31, Beth Klemkosky bought a yacht for $90,000. She paid $18,000 down and agreed...