On December? 31, Beth Klemkosky bought a yacht for ?$80,000. She paid ?$16,000 down and agreed to pay the balance in 7 equal annual installments that include both the principal and 6 percent interest on the declining balance. How big will the annual payments? be?
a. On December? 31, Beth Klemkosky bought a yacht for ?$80,000 and paid ?$16 ,000 ?down, how much does she need to borrow to purchase the? yacht?
?$_______?(Round to the nearest? dollar.)