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Solving for Annuity Amount per Period Aflack Inc. borrowed $ 5 4 , 0 0 0 and agreed to pay off the loan over 5

Solving for Annuity Amount per Period
Aflack Inc. borrowed $54,000 and agreed to pay off the loan over 5 years by making equal year-end payments, compounded annually at 6%.
a. What is the annual payment amount?
b. What is the annual payment amount if the interest rate increased to 8%?
Round answers to the nearest whole dollar.
Do not use a negative sign with your answer.
a. What is the annual payment amount?
b. What is the annual payment amount if the interest rate increased to 8%? $
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