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Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540 Exercise 3
Work the following application problems.
Jerome Watson, owner of Watson Welding, purchases a storage building for his business and makes a $25,000 down payment. He finances the balance of $122,500 for 20 years at 8%. (a) Find the total monthly payment given taxes of $3200 per year and insurance of $1275 per year. ___________ (b) Assume that insurance and taxes do not increase, and find the total cost owning the building for 20 years (including the down payment). ___________
Jerome Watson, owner of Watson Welding, purchases a storage building for his business and makes a $25,000 down payment. He finances the balance of $122,500 for 20 years at 8%. (a) Find the total monthly payment given taxes of $3200 per year and insurance of $1275 per year. ___________ (b) Assume that insurance and taxes do not increase, and find the total cost owning the building for 20 years (including the down payment). ___________
Explanation
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This is a problem of finding the monthl...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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