Question: A $515,000.00 Loan Is To Be Repaid By Monthly Payments Of $18,050.00. If The Interest Rate On The Loan Is 6.80% Compounded Semi-annually, What Is The Term Of The Loan? Round Your Answer To 2 Decimal Places. Years

Question: A $515,000.00 Loan Is To Be Repaid By Monthly Payments Of $18,050.00. If The Interest Rate On The Loan Is 6.80% Compounded Semi-annually, What Is The Term Of The Loan? Round Your Answer To 2 Decimal Places. Years

A $515,000.00 loan is to be repaid by monthly payments of$18,050.00. If the interest rate on the loan is 6.80% compoundedsemi-annually, what is the term of the loan? Round your answer to 2decimal places. years