Lush Gardens Co. bought a new truck for $56,000. It paid $5,600 of this amount as a down payment and financed the balance at 5.50% compounded semi-annually. If the company makes payments of $2,000 at:
a) The end of each month, how many months will it take to pay off the truck?
b) The end of each quarter, how many quarters will it take to pay off the truck?
c) The end of each year, how many years will it take to pay off the truck?
d) The end of each semi-annual period, how many semi-annual periods will it take to pay off the truck?
