You are thinking of purchasing a house. The house costs $ 250 comma 000

$250,000. You have $ 36 comma 000

$36,000 in cash that you can use as a down payment on thehouse, but you need to borrow the rest of the purchase price. The bank is offering a 30

30-year mortgage that requires annual payments and has an interest rate of 10 %

10% per year. What will be your annual payment if you sign thismortgage?