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30. PENALTY ON LATE PAYMENT Juanita Comey pays her $1800 credit-card bill 70 days after it is due. She is charged a penalty of $59.50.
30. PENALTY ON LATE PAYMENT Juanita Comey pays her $1800 credit-card bill 70 days after it is due. She is charged a penalty of $59.50. Find the rate of interest that was charged as a penalty. (Note: Penalty rates are frequently quite high.)
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Principles of Auditing and Other Assurance Services
Authors: Ray Whittington, Kurt Pany
20th edition
77729145, 978-1259295430, 1259295435, 978-0077729141
