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Helga [31]
2 years ago
12

Nancy and Joan bought a small farm for $300,000 under an installment land contract with a $50,000 down payment. They will pay in

terest only at 6% for five years when the remaining principal balance becomes due. How much interest will they pay over the life of the contract?
Business
1 answer:
KatRina [158]2 years ago
6 0

Answer:

75,000

Explanation:    

300,000-50,000 = 250000*6%*5

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hope this helps
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