Solution-Month interest on the overdue balance

Month interest on the overdue balance

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Reference no: EM131206094

One of your customers is delinquent on his accounts payable balance. You've mutually agreed to a repayment schedule of $596 per month. You will charge 1.2 % per month interest on the overdue balance. If the current balance is $10754, how many years will it take for the account to be paid off?

Reference no: EM131206094

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Month interest on the overdue balance

Reference no: EM131206094

Reference no: EM131206094

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