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One of your customers is delinquent on his/her accounts payable balance. You've mutually agreed to a repayment scheulde of $500/month. You will charge 1.4% per
One of your customers is delinquent on his/her accounts payable balance. You've mutually agreed to a repayment scheulde of $500/month. You will charge 1.4% per month interest on the overdue balance. If the current balance is $17,340, how many months will it take for the account to be paid off? Round answer to the nearest whole number.
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