Annuity Payments- 8

Annuity payments- A firm borrows $25,000 from the bank at 6% compounded annually to purchase some new machinary. This loan is to be repaid in equal installments at the end of each year over the next 12 years. How much will each payment be ??

The amount of each annual payment will be ????

of each annual payment will be s (Round to the nearest cent.)