IllIILI Question 8 (1 point) A loan worth $20,000 is to be repaid over 15 years. The service payments each term are $500 and accrue interest at an annual rate of 7%. If a sinking fund earis an annual return rate of 10%, calculate the payment put into the sinking fund each year that will pay off the loan at the end of the 15 year period. a) 1341.29 Ob) 1302.86 OC) 1114.32 Od) 1196.44 Oe) 1257.57