Actions: Create N rows in another table

Hi, I am doing a small app to track micro loans. The idea is that when a new loan is created, it should populate the payment schedule.

The loan entity has a field called Number_Payments. If the user selects 6, I want to create an action that will create 6 rows in the payments entity, all of them with different dates (weekly payments, for instance)

How can I create an action that will read the Number_Payment field and create N number of rows. Any ideas?

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