Pearson Co borrowed $135,600 from a local bank. The loan requires Pearson to pay 5 equal annual installments beginning one year from today. Assume an interest rate of 8%. What amount of each annual installment payment? Use this chart only to calculate the payment. Do not use formulas Interest rate FV PV FVA PVA FVAD PVAD Future value of Present value Future value of Present value future value of Present value $1 of $1 an ordinary of an ordinary an annuity due of an annuity annuity annuity due 5% 1.27628 .78353 5,5256 4.329948 5.8019 4.54595 6% 1.33823 .74726 5.6371 4.21236 5.9753 4.46511 7% 1.40255 .71299 5.7507 4.10020 6.1533 4.38721 8% 1.46933 .68058 5.8666 3.99271 6.3359 4.31213