13. 2.14 Page 69How large of a repayment must Theresa make each year starting next year if she borrows $60,000 now to start up a consulting office and if she promises to make equal annual payments for 5 years. Assume the interest rate is 8% per year.

Develop the answer using

(a) tabulated factor values,

(b) a financial calculator, and

(c) spreadsheet functions.