You are thinking of purchasing a house. The house

costs $$337,000.$ You have $$60,000$ 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 $25-$year mortgage that requires

annual payments and has an interest rate of $6\%$ per

year. What will be your annual payment if you sign

this mortgage?

The annual payment will be $

$.($Round to the

nearest cent.$)$