Question: This is the problem which I believe I am almost there, but would like some assistance please. A mortgage of $26,500 is to be repaid

This is the problem which I believe I am almost there, but would like some assistance please.

A mortgage of $26,500 is to be repaid by making payments of $1560 at the end of every six months. If interest is 7% compounded semi-annually, what is the term of the mortgage?

My answer so far:

PV = 26,500; PMT = 1560; I = 0.0175; 2/2 = 1;

P = 1.0175^1 -1 = 1.0175 1

26500 = 1560[1 1.0175-n / 0.0175

16.987179 = [1 1.0175-n / 0.0175]

Am I on the right path? Can someone please solve? Thank you.

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