Repaid by the amortization method with an installment

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A loan is being repaid by the amortization method with an installment at the end of each of 80 quarters at 6% annual effective interest, the first payment one quarter after the loan is made. In which payment are the principal and the interest most nearly equal to each other? The answer is 33. PLEASE SHOW ALL WORK WITH FORMULAS AND ALL CALCULATIONS! Please do not refer to another link or another question previously asked because the other previously asked questions are wrong hence why I am posting this! ALSO please do NOT solve on excel and post the table! Need all work and calculations!

Reference no: EM131079569

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