Installment loan To finance an investment a company would take out a $4,000,000 installment loan. The bank extends the loan under the following terms: 6% annual interest rate and annual installment payments over 8 years due at the end of each year. 1 1 point What is the annual installment payment Type your answer... 22 points What is the remaining principal to be paid after the first installment payment? Type your answer... 3 point What is the interest expense associated with the final installment payment in year 8