$($Related to Checkpoint$6\mathrm{.}1)($Loan amortization$)$ On December$31,$ Beth Klemkosky bought a yacht for $$$$70,000.$ She paid $$$$14,000$ down and agreed to pay the balance in $11$ equal annual installments that include both the principal and $11$ percent interest on the declining balance. How big will the annual payments$$ be$?$ Question content area bottom Part $1$ a$.$ On December$31,$ Beth Klemkosky bought a yacht for $$$$70,000$ and paid $$$$14,000$down$,$ how much does she need to borrow to purchase the$$ yacht? $$$ $56000($Round to the nearest$$ dollar.$)$ Part $2$ b$.$ If Beth agrees to pay the loan plus $11$ percent compound interest on the unpaid balance over the next $11$ years in $11$ equal$$ end$-$of$-$year payments, what will those equal payments$$ be$?($Round to the nearest$$ cent.$)$