On January 1, 2015, Eagle borrows $100,000 cash by signing a four-year, 7% installment note. The note requires four equal total payments of accrued interest and principal on December 31 of each year from 2015 through 2018.

(Use appropriate factor(s) from the tables provided.)

1.

Compute the amount of each of the four equal total payments.

Interest Rate	Initial Note Balance		Table Value		Amount of Each Payment
7.0%	$100,000	/		=	0

2.	Prepare an amortization table for this installment note. (Round all amounts to the nearest whole dollar.)