The amount of each annual payment will be? (Round to nearest cent)

Secure I https://www.mathxl.com/Student/P aspx?homeworkld 44864334. 7b366 FINC 300 (01): Fall 2017 Homework: Chapter 6 Homework Score: 0 of 2 pts P6-19 (similar to Save 4 of 10 (2 complete) HW Score: 13.83%, 3.3. Question Help Related to Checkpoint 6.1) (Annuity payments) A firm borrows $25,000 from the bank at 14 percent compounded annually to purchase some new machinery. This loan is to be repaid in equal annual installments at the end of each year over the next 8 years. How much will each annual payment be? The amount of each annual payment will be $(Round to the nearest cent.) Results t: 2 estion 3 estion 7 Enter your answer in the answer box and then click Check Answer Check Answer 25 acBook Ai