Use the Amortization Table to determine the payment required to amortize a loan of $ $7300$ at an annual interest rate of $8\%$ with a term of $7$ years. Payments are to be made annually.

Click here to view page $1$ of the Amortization Table.LOADING...

Click here to view page $2$ of the Amortization Table.LOADING...

Question content area bottom

Part $1$

The amount of each payment is$$ $

$$

enter your response here.

$($Round to the nearest cent as$$ needed.$)$