(Related to Checkpoint 6.1) (Annuity payments) Mr. Bill S. Preston, Esq., purchased a new house for $90,000. He paid $25,000 upfront and agreed to pay the rest over the next 10 years in 10 equal annual payments that include principal payments plus 8 percent compound interest on the unpaid balance. What will these equal payments be? a. Mr. Bill S. Preston, Esq., purchased a new house for $90,000 and paid $25,000 upfront. How much does he need to borrow to purchase the house? (Round to the nearest dollar.)