One of your customers is delinquent on his accounts payable balance. Youve mutually agreed to...
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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 1.5 percent per month interest on the overdue balance. If the current balance is $14,000, how long will it take for the account to be paid off? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
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