You have a loan outstanding. It requires making

sevenseven

annual payments of

$ 8 comma 000$8,000

each at the end of the next

sevenseven

years. Your bank has offered to restructure the loan so that instead of making the

sevenseven

payments as originally agreed, you will make only one final payment in

sevenseven

years. If the interest rate on the loan is

6 %6%,

what final payment will the bank require you to make so that it is indifferent to the two forms of payment?

You have a loan outstanding. It requires making seven annual payments of $8,000 each at the end of the next seven years. Your bank has offered to restructure the loan so that instead of making the seven payments as originally agreed, you will make only one final payment in seven years. If the interest rate on the loan is 6% what final payment will the bank require you to make so that it is indifferent to the two forms of payment? The final payment the bank will require you to make is (Round to the nearest dollar.)