On December 31, Beth Klemkosky bought a yacht for $90,000. She paid $20,000 down and agreed to pay the balance in 10 equal annual installments that include both the principal and 6 percent interest on the declining balance. How big will the annual payments be?
a. On December 31, Beth Klemkosky bought a yacht for $90,000 and paid $20,000 down, how much does she need to borrow to purchase the yacht $_________ (round to the nearest dollar)
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