(Loan amortization)On December31, Beth Klemkosky bought a yacht for $60,000. She paid $18,000 down and agreed to pay the balance in 15 equal annual installments that include both the principal and 6 percent interest on the declining balance. How big will the annual paymentsbe?

a.On December31, Beth Klemkosky bought a yacht for $60,000 and paid $18,000 down, how much does she need to borrow to purchase theyacht? $ (Round to the nearestdollar.)