A sum of $80,000 is to be repaid over a 10-year period through equal installments made at the end of each year. If an interest rate of 12%/year is charged on the unpaid balance and interest...

A sum of $80,000 is to be repaid over a 10-year period through equal installments made at the end of each year. If an interest
rate of 12%/year is charged on the unpaid balance and interest calculations are made at the end of each year, determine the
size of each installment so that the loan (principal plus interest charges) is amortized at the end of 10 years.