Solve a time-value-of-money parameter

Consider the balance model for a medical-expense loan

The loan balance is \(B_n\) after \(n\) periods, with \(B_0\)=$55,400

The nominal annual rate is 13.0%, 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 4 years, the balance must be at most $53,431