Question $6$

$3$ pts

$88,811$ is borrowed today to be repaid in $10$ identical quarterly installments at equal intervals in time, starting exactly one quarter from today. Assuming that interest compounds quarterly on the money borrowed, at an annual percentage rate of $7\%,$ what is the amount of each quarterly installment?

Round your answer to the nearest whole number. Do not use currency signs such as $"$$$."$