Solve a time-value-of-money parameter
Consider the balance model for a home-improvement loan
The loan balance is \(B_n\) after \(n\) periods, with \(B_0\)=$185,600
The nominal annual rate is 7.5%, compounded annually
The regular repayment is the quantity to be found
Interest is applied first, and the repayment is removed from the balance at the end of each year
After 2 years, the balance must be exhausted, so the target is zero