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A company takes out a 4 year loan for equipment for a total of $85,000. It is paid in equal monthly installments. The loan has

A company takes out a 4 year loan for equipment for a total of $85,000. It is paid in equal monthly installments. The loan has an annual interest rate of 8%. How much interest will be paid on the 20^th payment?

A company takes out a 4 year loan for equipment for a total of $85,000. It is paid in equal monthly installments. The loan has an annual interest rate of 8%. How much interest will be paid on the 20th payment

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