1. One of your customers is delinquent on his accounts payable balance. You've mutually agreed to a repayment schedule of $700 per month. You will charge 1.3 percent per month interest on the overdue balance. If the current balance is $21,500, how long will it take for the account to be paid off?

please do not excel or tables software, do it manually showing all the steps very detailed with the right annuity formula ect how did you isolate the n