Rj industries ships $50,000 of merchandise to a customer RJ allows the customer to pay the bill within one month with no interest due interest is charge on any balance remaining after one month at a 5 percent annual interest rate the customers pays 10,000 after one month and the remaining $40,000 after the second month. How much interest does RJ charge the customer?

Answer rating: 100% (QA)

To calculate the interest charged by RJ Industries we need to determine the outstanding balance afte... View the full answer