Alpha Geek

(8)

$10/per page/Negotiable

About Alpha Geek

Levels Tought:
University

Expertise:
Accounting,Algebra See all
Accounting,Algebra,Architecture and Design,Art & Design,Biology,Business & Finance,Calculus,Chemistry,Communications,Computer Science,Environmental science,Essay writing,Programming,Social Science,Statistics Hide all
Teaching Since: Apr 2017
Last Sign in: 438 Weeks Ago, 5 Days Ago
Questions Answered: 9562
Tutorials Posted: 9559

Education

  • bachelor in business administration
    Polytechnic State University Sanluis
    Jan-2006 - Nov-2010

  • CPA
    Polytechnic State University
    Jan-2012 - Nov-2016

Experience

  • Professor
    Harvard Square Academy (HS2)
    Mar-2012 - Present

Category > Accounting Posted 15 May 2017 My Price 5.00

Mr. Bill S. Preston, Esq. purchased a new house for $90,000

 

Mr. Bill S. Preston, Esq. purchased a new house for $90,000. He paid $30,000 upfront and agreed to pay the rest over the next 20 years in 20 equal annual payments that include principal payments plus 11 percent compound interest on the unpaid balance. What will these equal payments be?

             

4. a. Mr Bill S. Preston, Esq. purchased a new house for $90,000 and paid $30,000 upfront, How much does he need to borrow to purchase the house? $______(Round to the nearest cent)

             

   b. If Bill agrees to pay the loan over the next 20 years in 20 equal end of year payments plus 11 percent compound interest on the unpaid balance, what will these equal payments be? $_____(Round to the nearest cent)

 
 

Answers

Alpha Geek
(8)
Status NEW Posted 15 May 2017 01:05 PM My Price 5.00

-----------

Attachments

file 1494853416-Answer.docx preview (175 words )
M-----------r. -----------Bil-----------l S-----------. P-----------res-----------ton-----------, E-----------sq.----------- pu-----------rch-----------ase-----------d a----------- ne-----------w h-----------ous-----------e f-----------or -----------$90-----------,00-----------0. -----------He -----------pai-----------d $-----------30,-----------000----------- up-----------fro-----------nt -----------and----------- ag-----------ree-----------d t-----------o p-----------ay -----------the----------- re-----------st -----------ove-----------r t-----------he -----------nex-----------t 2-----------0 y-----------ear-----------s i-----------n 2-----------0 e-----------qua-----------l a-----------nnu-----------al -----------pay-----------men-----------ts -----------tha-----------t i-----------ncl-----------ude----------- pr-----------inc-----------ipa-----------l p-----------aym-----------ent-----------s p-----------lus----------- 11----------- pe-----------rce-----------nt -----------com-----------pou-----------nd -----------int-----------ere-----------st -----------on -----------the----------- un-----------pai-----------d b-----------ala-----------nce-----------. W-----------hat----------- wi-----------ll -----------the-----------se -----------equ-----------al -----------pay-----------men-----------ts -----------be?----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â----------- Â ----------- Â-----------  -----------4. -----------a. -----------Mr -----------Bil-----------l S-----------. P-----------res-----------ton-----------, E-----------sq.----------- pu-----------rch-----------ase-----------d a----------- ne-----------w h-----------ous-----------e f-----------or -----------$90-----------,00-----------0 a-----------nd -----------pai-----------d $-----------30,-----------000----------- up-----------fro-----------nt,----------- Ho-----------w m-----------uch----------- do-----------es -----------he -----------nee-----------d
Not Rated(0)