Loan amortization)On December 31, Beth Klemkosky bought a yacht for $50000. She paid $16000 down and agreed to pay the balance in 9 equal annual installments that include both the principal and 16 percent interest on the declining balance. How big will the annual payments be? a.On December 31, Beth Klemkosky bought a yacht for $50000 and paid $16000 down, how much does she need to borrow to purchase the yacht? $ 34000(Round to the nearest dollar.) b. If Beth agrees to pay the loan plus 16 percent compound interest on the unpaid balance over the next 9 years in 9 equal end-of-year payments, what will those equal payments be? $ nothing(Round to the nearest cent.)