You are thinking of purchasing a house. The house costs $

$418$

$,$

$000$

$.$

$$You have

$

$40$

$,$

$000$

$$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 r $6\%$per year. What will be your annual payment if you sign this

$$mortgage$?$