12- Strapped for cash, your neighbour makes you the following offer. He would like to borrow $15,000 today. He will repay the $15,000 by making yearly payments with the first payment being for $1,200 at the end of this year. The payments will grow by 11% every year thereafter. If the appropriate discount rate is 14%, how long will it take for your neighbour to repay the loan? (17.63 years)