XP 4-35 (similar to) You are thinking of purchasing a house. The house costs $250,000. You have $36,000 in cash that you can use as a down payment on the house, but you need to borrow the rest of the purchase price. The bank is offering a 30-year mortgage that requires annual payments and has an interest rate of 8% per year. What will be your annual payment if you sign this mortgage? The annual payment is $ . (Round to the nearest dollar) Enter your answer in the answer box and then click Check Answer. All parts showing Check Answer Next Previous