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I need help figuring a contract for deed loan payment.

I am looking at purchasing some hunting land on a contract for deed.  

Sale price is $60000
Down payment is $10000
Interest rate is 5%
Length of contract is 5 years
One annual payment a year 
Purchase date 11-1-2012
Annual payment date is Nov 1st each year.
What is my annual payment amount?
Thank you,
Ken
  • September 25 2012 - US
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Answers (1)

Profile picture for user9391210
I don't know how I put this under Home Equity Loans, it is a general mortgage question.  Any help is appreciated.  Thank you in advance.
  • September 25 2012
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