Graham purchased a business by agreeing to make three payments of $11,000.00 each in 3 months. 7 months, and 13 months Because of cash flow difficulties, he renegotiated the payment schedule so that he would pay $14,100.00 in 5 months. $10.000.00 in 16 months, and a third payment of $10,000.00. In how many years should he make the third payment if interest is 8% compounded monthly? State your answer in years and months (from 0 to 11 months)