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Monthly loan payments are $530. Lender charges  .93 percent per month interest (the interest rate is already...

Monthly loan payments are $530. Lender charges  .93 percent per month interest (the interest rate is already monthly).
Required:

If the loan amount is $14,750, how many months until the loan is repaid in full? ( Round your answer to 2 decimal places (e.g., 32.16).)
  Number of months   
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Answer #1

Function Arguments 0.0093 Rate 0.93% 个 -530 Pmt 530 14750 - number - 24.86495032 Fv 14750 Type Returns the number of periods for an investment based on periodic, constant payments and a constant interest rate. is the future value, or a cash balance you want to attain after the last payment is made. If omitted, zero is used. Fv Formula result = 24.86 OK Cancel

Hence, Number of months is 24.86

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