(Loan amortization) On December 31, Beth Klemkosky bought a yacht for $70,000, paying $14,000 down...
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(Loan amortization) On December 31, Beth Klemkosky bought a yacht for $70,000, paying $14,000 down and agreeing to pay the balance in 12 equal end-of-year installments at 13 percent interest on the declining balance. How big will the annual payments be? These equal payments will be $ (Round to the nearest cent.)
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