Question
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
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.
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Multinational Financial Management
Authors: Alan C Shapiro, Paul Hanouna
11th Edition
1119559901, 9781119559900
