A company borrowed $115,000 from a local bank. The loan requires 15 equal annual payments beginning one year from today. Assume an interest rate of 9%. What is the amount of each annual payment? Note: Use tables, Excel, or a financial calculator. Round your final answer to nearest whole dollar amount. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) Table, Excel, or calculator function: Loan Amount: Loan Payment: n= j=

A company borrowed $115,000 from a local bank. The loan requires 15 equal annual payments beginning one year from today. Assume an interest rate of 9%. What is the amount of each annual payment? Note: Use tables, Excel, or a financial caiculator. Round your final answer to neorest whole dollor omount. (FV of S1. PV or S1, FVA of \$1, PVA of \$1, FVAD of \$1 and PVAD of \$1)