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Mr. Bill S.? Preston, Esq., purchased a new house for ?$70,000. He paid ?$15,000 upfront and agreed to pay the rest over the next 15 years in 15 equal annual payments that include principal payments plus 9 percent compound interest on the unpaid balance. What will these equal payments? be?

 

 

a)  Mr. Bill S.? Preston, Esq., purchased a new house for ?$70,000 and paid ?$15,000 upfront. How much does he need to borrow to purchase the? house?

 

?$__________ ?(Round to the nearest? dollar.)

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