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Fully amortized loen (ennual payments for principal and interest with the same amount each yeat). Chuck Ponti has taked an eldefly woman into ioaning him

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Fully amortized loen (ennual payments for principal and interest with the same amount each yeat). Chuck Ponti has taked an eldefly woman into ioaning him 525 , oco for a new buetinest verture. She has, however, wockesshuly passed a finence class and requiest Chuck to sign a binding contract on reboyment of the $25,000 with an annual interest rate of 11% over the next 5 yeart ongine' 525,000 loan What is the amount ol payment that the woman will receive at the end of years 1 through 59 (Round to the nosest cent)

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