Use the present value and future value tables included in Appendix 8 and on the textbook companion website.
- Suppose you want to determine the payments you will have to make on a loan for a house. The house will cost $100,000, and your bank requires a 20 percent down payment. The remainder will be financed at 12 percent compounded annually for 25 years. What will be the annual payment?

Question

Use the present value and future value tables included in Appendix 8 and on the textbook companion website. 
- Suppose you want to determine the payments you will have to make on a loan for a house. The house will cost $100,000, and your bank requires a 20 percent down payment. The remainder will be financed at 12 percent compounded annually for 25 years. What will be the annual payment?

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The Answer of Use the present value and future value tables included in Appendix 8 and on the textbook companion website. 
- Suppose you want to determine the payments you will have to make on a loan for a house. The house will cost $100,000, and your bank requires a 20 percent down payment. The remainder will be financed at 12 percent compounded annually for 25 years. What will be the annual payment?

Use the Present Value and Future Value Tables Included in Appendix