A farmer purchased 285 acres of land for $4,100/acre. He paid 25% down and obtained a loan for the balance at 6.75% APR over a 20-year period. How much is the annual payment? (Simplify your answer completely. Round your answer to the nearest cent) $ Need Help? 6. (0/1 Points) DETAILS PREVIOUS ANSWERS EWENMATH12 1,16.013, 1/100 Submissions Used MY NOTES ASK YOUR TEACHER Larry purchased a new combine that cost $240,500, minus a rebate of $3,500, a trade-in of $9,500, and a down payment of $5,000. He takes out a loan for the balance % APR over 4 years. Find the annual payment. (Simplify your answer completely Round your answer to the nearest cent.)
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