Customers is delinquent on his accounts payable balance

Assignment Help Financial Management

Reference no: EM13918443

One of your customers is delinquent on his accounts payable balance. You’ve mutually agreed to a repayment schedule of $500 per month. You will charge 1.45 percent per month interest on the overdue balance. If the current balance is $13,500, how long will it take for the account to be paid off?

Reference no: EM13918443

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