Joe hopes to accumulate $200,000 with ten annual deposits into a savings account earning 6 percent interest annually. What amount must Joe deposit each year to achieve his objective? (Sinking Fund Payment) Harold and Helen purchase a $180.000 house using a down payment of $15,000 and a fixed rate mortgage for $165,000. The annual interest rate on the loan is 10 percent and the term is 30 years. What monthly payment is necessary to amortize this loan