Loan payment Determine the equal, annual, end-of-year payment required each year over the life of the loan shown in the following table to repay it fully during the stated term of the loan. (Click on the icon here in order to copy the contents of the data table below into a spreadsheet.) Principal $12,000 Interest rate 8% Term of loan 3 (years) Question content area bottom Part 1 The amount of the equal, annual, end-of-year payment, CF, is $enter your response here. (Round to the nearest cent.)