Solution-Percent per month on the overdue balance

Percent per month on the overdue balance

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Reference no: EM131710629

A key supplier is behind on his accounts payable account. The agreed on repayment schedule is $500 per month. The interest charge is 1.4 percent per month on the overdue balance. If the current balance is $17,340, how long will it take for the account to be paid off?

Please help me solve this using the N, I/Y, PV, PMT, FV calculator functions.

Reference no: EM131710629

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Percent per month on the overdue balance

Reference no: EM131710629

Reference no: EM131710629

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