Monthly payments of $484.99 are to be made on a loan of $20,000 at 7.7% compounded quarterly for four years. How much principal is paid off in the 20^th payment?

Name: Monthly payments of $484.99 are to be made on a loan of $20,000 at 7.7% compounded quarterly for four years. How much principal is paid off in the 20 th payment?
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The Answer of Monthly payments of $484.99 are to be made on a loan of $20,000 at 7.7% compounded quarterly for four years. How much principal is paid off in the 20^th payment?

Monthly Payments of $484