Bill S. Preston, Esq., purchased a new house for $100,000.

r. Bill S. Preston, Esq., purchased a new house for $100,000. He paid $25,000 upfront and agreed to pay the rest over the next 30 years in 30 equal annual payments that include principal payments plus 9 percent compound interest on the unpaid balance. What will these equal payments be?

• Mr. Bill S. Preston, Esq., purchased a new house for $100,000 and paid $25,000 upfront. How much does he borrow to purchase the house? (round to the nearest dollar)
• If Bill agrees to pay the loan over the next 30 years in 30 equal end of the year payments plus 9 percent compound interest on the unpaid balance what will these equal payments be? ( round to the nearest cent).

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