The answer is 6 years.
Loan - 100,000
Interest Rate - 12% compounded quarterly
Quarterly repayments are - $5904.74
1 100,000.00 103,000.00 5,904.74 97,095.26
2 97,095.26 100,008.12 5,904.74 94,103.38
3 94,103.38 96,926.48 5,904.74 91,021.74
4 91,021.74 93,752.39 5,904.74 87,847.65
5 87,847.65 90,483.08 5,904.74 84,578.34
6 84,578.34 87,115.69 5,904.74 81,210.95
7 81,210.95 83,647.28 5,904.74 77,742.54
8 77,742.54 80,074.82 5,904.74 74,170.08
9 74,170.08 76,395.18 5,904.74 70,490.44
10 70,490.44 72,605.15 5,904.74 66,700.41
11 66,700.41 68,701.42 5,904.74 62,796.68
12 62,796.68 64,680.58 5,904.74 58,775.84
13 58,775.84 60,539.12 5,904.74 54,634.38
14 54,634.38 56,273.41 5,904.74 50,368.67
15 50,368.67 51,879.73 5,904.74 45,974.99
16 45,974.99 47,354.24 5,904.74 41,449.50
17 41,449.50 42,692.99 5,904.74 36,788.25
18 36,788.25 37,891.89 5,904.74 31,987.15
19 31,987.15 32,946.77 5,904.74 27,042.03
20 27,042.03 27,853.29 5,904.74 21,948.55
21 21,948.55 22,607.00 5,904.74 16,702.26
22 16,702.26 17,203.33 5,904.74 11,298.59
23 11,298.59 11,637.55 5,904.74 5,732.81
24 5,732.81 5,904.79 5,904.74 0.05
