You won the lottery with a prize of $10 million. The money will be paid out over 20 years. You would prefer to receive all of the money now. The Lottery Commission offers you the option of a lump sum settlement, but will discount the payments at an annual rate of 7%. What will your payout be? You borrow $25,000 at an interest rate of 8% payable over five years. How much is your annual payment on the loan