Question: Elk Ridge Bar and Grill has a seven-year loan of 23200 with Bank of America it plans to repay the loan and 7 equal installments starting today if the rate of interest is 7.10 per cent how much will each payment be? round intermediate calculations to 4 decimal places. The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.