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Sarasota Corp. purchased a new blending machine for $3,150.03. It paid $570.27 down and financed the remaining $2,579.76. It is required to pay 6 annual
Sarasota Corp. purchased a new blending machine for $3,150.03. It paid $570.27 down and financed the remaining $2,579.76. It is required to pay 6 annual payments at the end of each year at an annual rate of interest of 7%. Click here to view the factor table. (For calculation purposes, use 5 decimal places as displayed in the factor table provided.) What is the amount of the annual payment? (Round answer to 2 decimal places, e.g. 15.25.) Amount of the annual payment $
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