Q2. One of your customers is delinquent on his accounts payable balance. Youve mutually agreed to a repayment schedule of $600 per month. You will charge 0.9 percent per month interest on the overdue balance. If the current balance is $18,400, how long will it take for the account to be paid off? SOLVE USING EXCELHW1Question 1bInput area:Monthly payment 600 Discount rate0.9%Current balance $ 18,400 Output area:# of months until paid off.

1. Q2. One of your customers is delinquent on his accounts payable balance. Youve mutually
agreed to a repayment schedule of $600 per month. You will charge 0.9 percent per month
interest on the overdue balance. If the current balance is $18,400, how long will it take for the
account to be paid off? SOLVE USING EXCELHW1Question 1bInput area:Monthly payment
600 Discount rate0.9%Current balance $ 18,400 Output area:# of months until
paid off