find the payment necessary to amortize 8% loan of $1500 for 19 compound quarterly payments. the payment size is???? Solution payment size=P[r(1+r)n]/[(1+r)n-1] r =interest/4 =0.08/4 =0.02 P=1500 n= 19 payment size=1500*[0.02(1+0.02)19]/[(1+0.02)19-1] payment size=1500*[0.02(1.02)19]/[(1.02)19-1] payment size=95.67$.