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Maureen borrowed $6592.00 compounded annually to help finance her education. She contracted to repay the loan in annual payments of $265.00 each. If the payments

Maureen

borrowed

$6592.00

compounded

annually

to help finance her education. She contracted to repay the loan in

annual

payments of

$265.00

each. If the payments are due at the end of

each

year

and interest is

compounded

annually,

how long will

Maureen

have to make

annual

payments? State your answer in years and months (from 0 to 11 months).

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