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Graham purchased a business by agreeing to make three payments of $ 1 3 , 0 0 0 . 0 0 each in 2 months,
Graham purchased a business by agreeing to make three payments of $ each in months, months, and months. Because of cash flow difficulties, he renegotiated the payment schedule so that he would pay $ in months, $ in months, and a third payment of $ In how many years should he make the third payment if interest is compounded monthly? State your answer in years and months from to months
The payment of $ can be fulfilled in Round down to the nearest month.
years and months
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