The chief finance officer of your school district reminded the school district board of a loan that they have to pay off in 8 years. The amount needed to pay off the loan in 8 years is $130,260.33. The officer recommended that the district should prepare for the payoff by setting aside annual payments into a fund paying 2.3%. How much should each payment be? $15.916.46 $15,016.48 $16,657.04 $14,678.87