If You Buy a Factory for $250,000 and the Terms

Multiple Choice

If you buy a factory for $250,000 and the terms are 20% down,the balance to be paid off over 30 years at a 12 percent rate of interest on the unpaid balance,what are the 30 equal annual payments? (Round to the nearest whole dollar)

A) $20,593
B) $31,036
C) $24,829
D) $50,212
E) $6,667