Payments. Sam Hinds, a local dentist, is going to remodel the dental reception area and add two new workstations He has contacted A-Dec, and the new equipment and cabinetry will cost $16,000. A-Dec will finance the equipment purchase at 9.5% for 8 years. What will Hinds have to pay in annual payments for this equipment? What will Hinds have to pay in annual payments for this equipment? (Round to the nearest cent)