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Bimal Shah
Bimal Shah, Financial Advisor
Category: Finance
Satisfied Customers: 11
Experience:  CLU, ChFC, CASL 13 years of Experience
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John Doeber borrowed $125,000 to buy a house. His loan cost

Customer Question

John Doeber borrowed $125,000 to buy a house. His loan cost was 11% and he promised to repay the loan in 15 equal annual payments. How much are the annual payments?
Submitted: 7 years ago.
Category: Finance
Expert:  Bimal Shah replied 7 years ago.
$17,049 assuming your loan interest is 11%. I hope this helps. Please click accept if it answers your question.

Edited by Bimal Shah on 1/30/2010 at 9:29 PM EST