Thanks. I did the math without interest on a 12-y

Thanks. I did the math without interest on a 12-year repayment of $85M, and got $1.77M per quarter. If you consider 1% per annum (simple interest calculation only -- I = P*r*t) and a payback of 12 years on $85M, that ends up a total of $95.2M. Now, divide this by 48 (4 quarters per year x 12 years) and you get $1.98M per quarter.