Question: (1 point) Robert is repaying a debt with 17 annual payments of 1300 dollars each, the first coming a year from now. At the end

(1 point) Robert is repaying a debt with 17 annual payments

(1 point) Robert is repaying a debt with 17 annual payments of 1300 dollars each, the first coming a year from now. At the end of the 4th year, he makes an extra payment of 2600 dollars. He then shortens his remaining payment period by 2 years, and makes level payments over the remaining time. If the effective rate of interest is 8.3 percent, how large is his new annual payment? Answer = dollars

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