Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. one of your customers is delinquent on his account

One of your customers is delinquent on his accounts payable balance. You've mutually agreed to...

50.1K

Verified Solution

Question

Finance

image

One of your customers is delinquent on his accounts payable balance. You've mutually agreed to a repayment schedule of $690 per month. You will charge 1.09 percent per month interest on the overdue balance. Required: If the current balance is $14,910, how long will it take for the account to be paid off? (Do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) Number of months

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Let f(x) = x + 2/x a) Use quadratic Lagrange interpolation based on the nodes x0=1, x1=2,...

Advance Math
Q

An individual has low blood glucose levels—not low enough to cause symptoms, but enough to cause...

Medical Sciences
Q

55 Which of the following statements describes the results of this reaction C6H12O6 6 02...

Biology
Q

At 27 C the speed at which maximum number of molecules belongs is 10 m...

Physics
Q

Macmillan A person takes out a student loan of 26 000 at an APR of...

Basic Math
Q

Recall that profit equals revenue minus cost. For the revenue and cost functions shown, answer...

Basic Math
Q

Question 1 N 1 2 3 2 1 d The exponential equation for this table...

Algebra
Q

Robert Company, which applies overhead to production on the basis of machine hours, reported the...

Accounting
Q

Tremendous Company is involved in the exploration for mineral resource. The accounting policy i to...

Accounting
Q

E11-23 (Algo) Comparing Stock Dividends and Stock Splits LO11-6 On July 1, Davidson Corporation had...

Accounting
Q

ONLY ANSWER IF YOU DO ALL PLEASEE Journalize the entries to record the following (refer...

Accounting
Q

Lewi, Inc. reports: What is Lewi's ending cash balance? $1484000$3080000$1840000$3492000

Accounting