For his business, Nicholas leased equipment valued at $25,000. The terms of the lease required payments of $1950 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.)