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(Related to Checkpoint 6.1) (Annuity payments) Mr. Bill S. Preston, Esq., purchased new house for $130,000. He paid $30,000 upfront and agreed to pay the

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(Related to Checkpoint 6.1) (Annuity payments) Mr. Bill S. Preston, Esq., purchased new house for $130,000. He paid $30,000 upfront and agreed to pay the rest over the next 25 years in 25 equal annual payments that include principal payments plus 8 percent compound interest on the unpaid balance. What will these equal payments be

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