Solved: Customers delinquent accounts payable balance, Accounting Basics

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Customers delinquent accounts payable balance

Problem:

One of your customers is delinquent on his accounts payable balance. You've mutually agreed to a repayment schedule of $600 per month. You will charge .6 percent per month interest on the overdue balance. If the current balance is $16,823.05, it will take ??? months for the account to be paid off.

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Accounting Basics: Customers delinquent accounts payable balance

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