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Lush Gardens Co. bought a new truck for $56,000. It paid $5,600 of this amount as a down payment and financed the balance at 5.75% compounded semi-annually. If the company makes payments of $1,600 at the end of every month, how long will it take to settle the loan? You invested $11,500 at the end of each quarter for 6 years in an investment fund. At the end of year 6 , if the balance in the fund was $294,000, what was the nominal interest rate compounded quarterly? The value of a 6 year lease that requires payments of $650 made at the beginning of every quarter is $13,000. What is the nominal interest rate compounded quarterly