Homework: Chapter 4 Homework Save Score: 0 of 1 pt 8 of 16 (1 complete) HW Score: 4.69%, 0.75 of 16 pts P 4-35 (similar to) Question Help O You are thinking of purchasing a house. The house costs $300,000. You have 543,000 in cash that you can use as a down payment on the house, but you need to borrow the rest of the purchase price. The bank is offering a 30-year mortgage that requires annual payments and has an interest rate of 8% per year. What will be your annual payment if you sign this mortgage? The annual payment is $1. (Round to the nearest dollar.)