SOLUTION: Sylvia buys a small farm (a quarter section of 160 acres) for $225 000.00. She makes a down payment of $25 000.00 and uses a 20-year mortgage to pay the remainder. Because it is

Question 1037689: Sylvia buys a small farm (a quarter section of 160 acres) for $225 000.00. She makes a down payment of $25 000.00 and uses a 20-year mortgage to pay the remainder. Because it is farmland, she opted for a yearly payment instead of monthly payments. Sylvia�s payments are $16 931.89 each year.

a. Calculate how much Sylvia will pay for the farm with yearly payments.
Hint: Include the down payment and amount paid over the course of the 20-year mortgage.
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!

a.

Just do the arithmetic.

John

My calculator said it, I believe it, that settles it

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