John Mark leased a car for $$12100$ by making month$-$end payments of $$180.$ At the end of his lease, he paid an additional single lump sum payment of $$1500$ to purcahse the car.

The rate of interest on his loan was $4\%$ compounded quarterly. How long was the term of his lease?

Start by drawing a timeline for this annuity. Include dates, regular payments, the value of the car on purchase date, and the lump sum payment at the end of the lease. Determine a focal date.

Use formulas by hand or the TVM functions on your calculator to determine the value of n