$6$

If you borrow $$8,000$ with an interest rate of $5$ percent, to be repaid in five equal yearly payments at the end of the next five years, what would be the amount of each payment? $($Exhibit $1-$A$,$ Exhibit $1-$B$,$ Exhibit $1-$C$,$ Exhibit $1-$D$)$

$$ Note: Use appropriate factor$($s$)$ from the tables provided. Round time value factor to $3$ decimal places and final answer to the nearest whole number.

Hint

$$ Amount of each payment

Print

$$