***You can use a calculator but I just need the work written out so I can see what you did and how you did it***

I need the answer for number 4 which is based on number 3. Please answer number 4 based on number 3. Number 4 can be found at the bottom. Thank you!

3. A business takes out a loan for $250,000 at 4.8% interest compounded monthly. If the business can afford to make monthly payments of only $1,500 on the loan, what is the formula to calculate the number of months required to repay the loan completely? What is the formula result?

The ANSWER for this is N = 276

Now, for the question I need, which is number 4:

Redo your calculations from question #3 to assume that the business can afford only a $1,000 payment. What is the revised formula and resulting value?