An engineering design firm needs to borrow $350,000 from a local bank at an interest rate of 9% over seven years. What is the required annual equal payment to retire the loan in seven years? Click the icon to view the interest factors for discrete compounding when /= 9% per year. C The required annual equal payment to retire the loan in seven years is $. (Round to the nearest dollar.) At i = 17%, what is the annual-equivalence amount for the infinite series shown next? $3,200 4 1 The annual-equivalence amount is $. (Round to the nearest dollar.) 0 4 2 3 4 5 6 Years C 7 8 $5,400 9 10 11 12 13