You need to call the interest dollar amount "interest" and the rate a "rate." You've just said again that you want to forecast the interest "rate" for the next 7 years. Sounds like what you want is to know the interest dollar amount that each of those payments will consist of.
There are some complications here. One, there's two ways to do the interest. The most common (like you'd normally do for a mortgage or car loan or such) is that the payments are equal and already include interest. The other way is that the payments are principal and then interest is added to that payment, and then each payment goes down as time goes along cause the interest will go down.
The other is that the payments were due starting last November and nothing's been paid. So are they accruing interest this whole time, and if so, how would that be taken care of cause it wouldn't have been figured into the original payments. Or maybe just some late fee of some sort. And... have to know what those payments are too. I can figure that out, but it doesn't mean it'll match whatever they did.
So can't just flat-out answer this.
It also occurs to me that this is actually a homework problem. Why? Cause what kind of company/person has $2 million in damages? Not someone who would come to a place like this to ask such questions.
So, tell me, was this a homework problem? If so, we don't just outright do homework for people -- we expect you to try to work it out first and then we can check what you've done. But all that stuff I said I needed to know still counts. You've paraphrased the whole thing and there's missing information.
