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Lush Gardens bought a new truck for $80,000. It paid $10,000 as a down payment and financed the balance at 5.00% compounded monthly. If the

Lush Gardens bought a new truck for $80,000. It paid $10,000 as a down payment and financed the balance at 5.00% compounded monthly. If the company makes payments of $1,750 at the end of every month, how long will it take to pay off the loan?

year(s)

+

month(s)

Round up to the next payment period. Give your answer in years and months.

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