An invoice states that interest will be charged on overdue accounts at the rate of 1 1/2

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An invoice states that interest will be charged on overdue accounts at the rate of 1 1/2 % per month. What will the interest charges be on a $3760 billing that is 3 months overdue?

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Fundamentals Of Business Mathematics In Canada

ISBN: 9781259370151

3rd Edition

Authors: F. Ernest Jerome, Jackie Shemko

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Question Posted: Oct 16, 2020 03:58 AM

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An invoice states that interest will be charged on overdue accounts at the rate of 1 1/2

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As in the above question nothing is specified regarding simple interest or compou...View the full answer

Fundamentals Of Business Mathematics In Canada

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