A financial calculator is recommended.

Dax borrows $300,000 and the loan is governed by compound interest at an annual effective interest rate of 4.25%. Dax agrees to repay the loan by ten equally spaced payments, the first four of which are for $23,000 and the next six of which are for $38,000. When should he make the first payment? (Round your answer to three decimal places.)

He should make the first payment after __years.

12. Previous Answers PVINTTHEORY2 2.3.010, 0/2 points My Notes Ask Your Teacher A financial calculator is recommended. Dax borrows $300,000 and the loan is governed by compound interest at an annual effective interest rate of 4.25%. Dax agrees to repay the loan by ten equally spaced payments, the first four of which are for $23,000 and the next six of which are for $38,000. When should he make the first payment? (Round your answer to three decimal places) He should make the first payment after x years. Submit Answer 12. Previous Answers PVINTTHEORY2 2.3.010, 0/2 points My Notes Ask Your Teacher A financial calculator is recommended. Dax borrows $300,000 and the loan is governed by compound interest at an annual effective interest rate of 4.25%. Dax agrees to repay the loan by ten equally spaced payments, the first four of which are for $23,000 and the next six of which are for $38,000. When should he make the first payment? (Round your answer to three decimal places) He should make the first payment after x years. Submit