One of your customers is delinquent on his accounts payable, Financial Management

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One of your customers is delinquent on his accounts payable

One of your customers is delinquent on his accounts payable balance. You’ve mutually agreed to a repayment schedule of $680 per month. You will charge 1.08 percent per month interest on the overdue balance.

Required:

If the current balance is $14,900, how long will it take for the account to be paid off?

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Financial Management: One of your customers is delinquent on his accounts payable

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Financial Management: One of your customers is delinquent on his accounts payable

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