For his business, Nicholas leased equipment valued at $21,000. The terms of the lease required payments of $1700 every month. If the first payment is due eighteen months after the lease was signed and interest is 5% compounded semi-annually, what is the term of the lease? State your answer in years and months (from 0 to 11 months). The term of the lease is year(s) and month(s). (Type whole numbers.)