payments be? What is the effective annual rate 22. Calculating Number of Periods (L04) One of your customers is delinquent on his accounts payable balance. You've mutually agreed to a repayment schedule of $500 per month. You will charge 1.7% per month interest on the overdue balance. If the current balance is $16,000, how long will it take for the account to be paid off? simit nick Loans Inc. offers you "three for four hI knock on your door