One of your customers is delinquent on his accounts payable balance. You've mutually agreed to a repayment schedule of $400 per month. You will charge 1.4 percent per month interest on the overdue balance. If the current balance is $17,320, how long will it take for the account to be paid off? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Number of months Assume the appropriate discount rate for the following cash flows is 4.78 percent per year. Year NM Cash Flow $1,400 1,900 3,400 4,300 What is the present value of the cash flows? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Present value First Simple Bank pays 6.3 percent simple interest on its investment accounts. First Complex Bank pays interest on its accounts compounded annually. What rate should the bank set if it wants to match First Simple Bank over an investment horizon of 10 years? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Interest rate %