Question:

For how long will Lourdes make payments on $$175,000\mathrm{.}00$ they borrowed to start

their business, if they make payments of $$2,650\mathrm{.}00$ at the beginning of every month

and interest is $7\mathrm{.}35\%$ compounded quarterly?

Final answer:

Lourdes will make payments

years, and

months.