Find How many months will take to pay off account balance

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Problem 1: You are late paying a bill for $15,430.12. You have made arrangements to pay off the bill in installments of $380 per month, and you will be charged monthly interest of 1.2% on the overdue balance. How many months will it take you to pay off the account balance?  

Reference no: EM132783416

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Find How many months will take to pay off account balance : $380 per month, and you will be charged monthly interest of 1.2% on the overdue balance. How many months will it take you to pay off the account balance?
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