8. You decide to buy a piece of equipment needed for your business. The equipment price is $100,000. You put down $20,000 cash and finance the balance for 6 years with annual payments at an annual interest rate of 9.75 percent. a) Calculate your annual payment: b) Set up an amortization table for the entire life of the loan (6 years): Year Beginning Amount Annual Payment Interest Paid Principal Repayment Balance 1 2 3 4 A 6