One of your customers is delinquent on his accounts payable balance. you’ve mutually agreed to a repayment schedule of $750 per month. you will charge 1.9 percent per month interest on the overdue balance. if the current balance is $18,000, 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.) months for account to be paid off months

32.34 months

Explanation:

A = monthly payment amount P = loan amount i = monthly interest rate n = total number of payments.

A = 750, P = 18000 i = 0.019 n = n.

Need to find n.

Monthly payment formula is:

answer; yield to maturity;

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