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ONE OF YOUR CUSTOMERS IS DELINQUENT ON HIS ACCOUNTS PAYABLE BALANCE.

ONE OF YOUR CUSTOMERS IS DELINQUENT ON HIS ACCOUNTS PAYABLE BALANCE..

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 1.40 percent per month interest on the overdue balance.

If the current balance is $13,000, how long will it take for the account to be paid off? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

ONE OF YOUR CUSTOMERS IS DELINQUENT ON HIS ACCOUNTS PAYABLE BALANCE.

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