What is the payment expected to be in one month

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Blue Eagle Packaging just bought a new trampoline park for 1,065,090 dollars. To pay for the trampoline park, the company took out a loan that requires Blue Eagle Packaging to pay the bank a special payment of 36,460 dollars in 4 months and also make regular monthly payments forever. The first regular payment is expected in 1 month and all subsequent regular payments are expected to increase by 0.38 percent per month forever. The interest rate on the loan is 1.15 percent per month. What is the payment expected to be in 1 month?

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Reference no: EM131963129

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