One of your customers is delinquent on their accounts payable balance. The current balance is...
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Finance
One of your customers is delinquent on their accounts payable balance. The current balance is $25000. You have made arrangements to have them pay off the balance, along with the interest on the unpaid balance, over a period of 5 years at an APR of 12%
a. what will the monthly payment be?
b.what effective annual rate are they paying?
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