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5. For his business, Nicholas leased equipment valued at $27000. The terms of the lease required payments of $2000 every month. If the first payment

5. For his business, Nicholas leased equipment valued at $27000. The terms of the lease required payments of $2000 every month. If the first payment is due fifteen months after the lease was signed and interest is 12% compounded quarterly, what is the term of the lease? State your answer in years and months (from 0 to 11 months).

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