One of your customers is delinquent on his accounts payable balance. Youve mutually agreed to a repayment

Question:

One of your customers is delinquent on his accounts payable balance. You’ve mutually agreed to a repayment schedule of $$300$ per month. You will charge 1.5 percent per month interest on the overdue balance. If the current balance is $$12,054.24,$ how long will it take for the account to be paid off?

Fantastic news! We've Found the answer you've been seeking!