Compute the amount yearly loan repayment.
Harry just bought a new four-wheel-drive Jeep Cherokee for his lumber business. The price of the vehicle was $35,000 of which he made a $5,000 down payment and took out an amortized loan for the rest. His local bank made the loan at 10% interest for five years. He has to pay back the loan in five equal annual installments beginning one year from now. Determine the amount of Harry's annual payment.