Loan Amortization. A commercial bank is willing to make you a loan of $10,000. The bank wants a 12 percent interest rate and requires five equal annual payments to repay both interest and principal....

Loan Amortization. A commercial bank is willing to make you a loan of $10,000. The bank wants a 12 percent interest rate and requires five equal annual payments to repay both interest and principal. What will be the dollar amount of the annual payment?