On December 31, Beth Klemkosky bought a yacht for

$80,000.

She paid

$14,000

down and agreed to pay the balance in

7

equal annual installments that include both the principal and

15

percent interest on the declining balance

If Beth agrees to pay the loan plus

15

percent compound interest on the unpaid balance over the next

7

years in

7

equal end-of-year payments, what will those equal payments be?