Anderson Manufacturing Co., a small fabricator of plastics, needs to purchase an extrusion molding machine for $130,000. Kersey will borrow money from a bank at an interest rate of 10% over five years. Anderson expects its product sales to be slow during the first year, but to increase subsequently at an annual rate of 8%. Anderson therefore arranges with the bank to pay off the loan on a "balloon scale," which results in the lowest payment at the end of the first year and each subsequent payment being just 8% over the previous one. Determine the five annual payments.

What are the five annual payments? Period(N) 1 to 5.