P6-26 (similar to) Question Help (Annuity payments) To buy a new house, you must borrow $175,000. To do this, you take out a $175,000, 35-year, 9 percent mortgage. Your mortgage payments, which are made at the end of each year (one payment each year), include both principal and 9 percent interest on the declining balance. How large will your annual payments be? The amount of your annual payment will be $ (Round to the nearest cent.)