22. Calculating Number of Periods (L04) One of your customers is delinquent on his accounts payable balance. You've mutually agreed to a repayment schedule of $500 per month. You will charge 1.7% per month interest on the overdue balance. If the current balance is $16,000, how long will it take for the account to be paid off? 29. Discounted Cash Flow Analysis (LOI) If the appropriate discount rate for the following cash flows is 7.38% per year, what is the present value of the cash flows? Year 1 Cash Flow $2,480 2 0 3 3.920 4 2.170