An individual borrowed $ 74,000 at an APR of 6%, which will be paid off with monthly payments of $ 505 for 22 years. a. Identify the amount borrowed, the annual interest rate, the number of payments per year, the loan term, and the payment amount. The amount borrowed is $ nothing , the annual interest rate is nothing %, the number of payments per year is nothing , the loan term is nothing years, and the payment amount is $ nothing .