Question
One of your customers is delinquent on his accounts payable balance. Youve mutually agreed to a repayment schedule of $750 per month. You will charge
| One of your customers is delinquent on his accounts payable balance. Youve mutually agreed to a repayment schedule of $750 per month. You will charge 2.1 percent per month interest on the overdue balance. |
| If the current balance is $20,000, how long will it take for the account to be paid off? |
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The Handbook Of Structured Finance
Authors: Arnaud De Servigny, Norbert Jobst
1st Edition
0071468641, 978-0071468640
