Larry purchased a new combine that cost $220,500, minus a rebate of $2,500, a trade -in of $6,500, and a down payment of $8,000. He takes out a loan for the balance at 8% APR over 4 years. Find the...

Larry purchased a new combine that cost $220,500, minus a rebate of $2,500, a trade -in of $6,500, and a down payment of $8,000. He takes out a loan for the balance at 8% APR over 4 years. Find the annual payment. ( Simplify your answer completely. Round the answer to the nearest cent