Create amortization table for this installment note

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On December 31, 2020, KEC Environmental Corp. borrowed $116,000 by signing a four-year, 9.0% Installment note. The note requires four equal payments of accrued interest and principal on December 31 of each year from 2021 through 2024.

Question a. Calculate the size of each of the four equal payments

Question b. Amortization table for this Installment note.

Reference no: EM132489863

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