Business, 27.07.2020 21:01 sierranicasio

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 1.2 percent per month interest on the overdue balance. If the current balance is $11,000, 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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