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On November 30, 2020, Calla Resources Ltd. borrowed $90,000 from a bank by signing a four-year installment note bearing interest at 8%. The terms
On November 30, 2020, Calla Resources Ltd. borrowed $90,000 from a bank by signing a four-year installment note bearing interest at 8%. The terms of the note require equal payments each year on November 30, starting November 30, 2021. Use TABLE 14A.2 (Use appropriate factor(s) from the tables provided.) Required: 1. Calculate the size of each installment payment. (Do not round intermediate calculations. Round the final answer to the nearest whole dollar.) Payment
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