Suppose you want to buy a vehicle, which is why you request today a loan of $ 12,000,000 to be paid in installments, month overdue, in 36 months, at an interest rate of 5% quarterly with monthly capitalization. As indicated, it is requested to determine the value of a single payment to be made on the 20th month, counted from the date of application for the loan, considering as the date focus the date of this single payment, which is equivalent to the entire debt, considering a rate of 14% semi-annually, capitalizable monthly. Suppose there is no interest for late payment.