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kupik [55]
3 years ago
6

One of your customers is delinquent on his accounts payable balance. youâve mutually agreed to a repayment schedule of $660 per

month. you will charge 1.06 percent per month interest on the overdue balance. if the current balance is $14,880, how long will it take for the account to be paid off

Business
1 answer:
Ahat [919]3 years ago
5 0
N=log((1−14,880×0.0106÷660)^(−1))÷log(1+0.0106)=25.9 months

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