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A company borrowed $135,000 from a local bank. The loan requires 12 equal annual payments beginning one year from today. Assume an Interest rate

A company borrowed $135,000 from a local bank. The loan requires 12 equal annual payments beginning one year from today. Assume an Interest rate of 7%. 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: = i=

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