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You are negotiating to purchase a luxury RV that has a purchase price of $150,000. Your down payment will be $60,000 and you will finance

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You are negotiating to purchase a luxury RV that has a purchase price of $150,000. Your down payment will be $60,000 and you will finance the remaining balance of $90,000. A bank will loan you this remaining balance at 4.375% interest. Your will make annual payments with a 7-year payment schedule. The payments are due at the end of each year. What is the annual annuity payment under this schedule? $19,421.43 $16203.34 $3,937.50 $25,338.90

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