Answered step by step
Verified Expert Solution
Question
1 Approved Answer
7-One of your customers is delinquent on his accounts payable balance. Youve mutually agreed to a repayment schedule of $560 per month. You will charge
7-One of your customers is delinquent on his accounts payable balance. Youve mutually agreed to a repayment schedule of $560 per month. You will charge .96 percent per month interest on the overdue balance. If the current balance is $14,780, how long will it take for the account to be paid off? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Number of months
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started