(Related to Checkpoint 6.1) (Loan amortization) On December 31, Beth Kernkosky bought a yacht for 5120,000. She paid $12.000 down and agreed to pay the balance in 14 equal annual installments that include both the principal and 13 percent interest on the dedining balance. How big wil the arvual payments ba? a. On December 31, Beth Klemkosky bought a yacht for $120,000 and paid 512.000 down, how much does the need to borrow to purchase the yache (Round to the nearest dollar.) b. Both agrees to pay the loan plus 13 percent compound interest on the unpaid balance over the next 14 years in tal endol-year payments, what will hone equal payments be? (Round to the nearest cont) rd ry arly uld