You owe $400,000 on a mortgage loan. You wish to repay the loan with 15 equal payments, one at the end of each year for the next 15 years, and a separate final $80,000 payment at the end of 16 years., What is the appropriate amount of each of the 15 equal annual payments? The interest rate is 8% compounded annually. Hint: The present value of the 15 equal payments for the frst 15 years plus the present value of the $80,000 at the end of the 16th year must equal the $400,000 amount of the mortgage loan.