Question: CHIO SET-A 2 Exercise 10-10 Installment note with equal total payments LO C1 125 On January 1, 2018, Eagle borrows $100,000 cash by signing a

 CHIO SET-A 2 Exercise 10-10 Installment note with equal total payments

CHIO SET-A 2 Exercise 10-10 Installment note with equal total payments LO C1 125 On January 1, 2018, 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 2018 through 2021 (Table 1. Table B.2. Table 03, and Table B4) (Use appropriate factor(s) from the tables provided.) 1. Compute the amount of each of the four equal total payments Interest Rate Initial Note alance Table Value Amount of Each Payment 7035 10 31872 100.000 1 2. Prepare an amortization table for this installment note (Round all amounts to the nearest whole dollar) Dj Period Beginning Debt interest De Notes Credit Expens Cash 2018 10000TS91525000 2019 2020 2021 Total

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