One of your customers is delinquent on his accounts payable

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Reference no: EM13376377

One of your customers is delinquent on his accounts payable balance. You've mutually agreed to a repayment schedule of $510 per month. You will charge .91 percent per month interest on the overdue balance.

Required:

If the current balance is $14,730, how long will it take for the account to be paid off? (Do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Reference no: EM13376377

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