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How long will take for the account to be paid off

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One of your customers is delinquent on his accounts payable balance. You've mutually agreed to a repayment schedule of $570 per month. You will charge 1.6% per month interest on the overdue balance.

Problem 1: If the current balance is $16,700, how long will it take for the account to be paid off?

Reference no: EM132838074

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