You borrowed S25,000 to finance the educational expenses for your senior year of college. The loan will be paid off over 7 years The loan cares an interest rate of 4% per year and is to be repaid in equal annual installments over the next seven years. Assume that the money was borrowed at the beginning of your senior year and that the first installment will be due a year later. Compute the amount of the annual installments (approximately)