You have a loan outstanding. It requires making 7 annual payments at the end of the next 7 years of $ 1 comma 000 each.

You have a loan outstanding. It requires making 7 annual payments at the end of the next 7 years of $ 1 comma 000 each. Your bank has offered to allow you to skip making the next 6 payments in lieu of making one large payment at the end of the​ loan's term in 7 years. If the interest rate on the loan is 8.02 %​, what final payment will the bank require you to make so that it is indifferent between the two forms of​ payment?

The present value of the cash flows is ​$. ​(Round to the nearest​ dollar.)