Saved Help Save & Exit Submit Check my work Problem 1-14 Determining a Loan Payment Amount (L01-4) If you borrow $8,000 with an interest rate of 5 percent, to be repaid in five equal yearly payments at the end of the next five years, what would be the amount of each payment? Use Exhibit 1-D. (Round time value factor to 3 decimal places and final answer to the nearest whole number.) Amount of each payment