Alex loans Nomar $200,000 at a rate of 4% nominal interest convertible quarterly. They agree that Nomar will repay the loan by making quarterly payments. These payments will each be $25,000 except for the last payment which will be a drop payment. Find the total length of the loan and the amount of the final payment.

The answer is :There are 9 payments. The drop payment is $9,523.87, but i do not know how to set the question up