Question: Determine the equal, annual, end-of-year payment required each year over the life of the loan shown in the following table to repay it fully during

Determine the equal, annual, end-of-year payment required each year over the life of the loan shown in the following table to repay it fully during the stated term of the loan. Principal Interest rate Term of loan (years)

Principal: $58,000

Interest rate: 9%

Term of loan (years): 25

Question: The amount of the equal, annual, end-of-year payment, CF, is $. (Round to the nearest cent.)

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