Question
Indira paid interest charges of $163.02 on a $4,940 invoice that was two months overdue. What monthly rate of simple interest was she charged? (Round
Indira paid interest charges of $163.02 on a $4,940 invoice that was two months overdue.
What monthly rate of simple interest was she charged?(Round your answer to 2 decimal places.)
Monthly rate % per month
I got answers 19.8 and 20 and neither were correct.
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Management And Cost Accounting
Authors: Alnoor Bhimani, Srikant M. Datar, Charles T. Horngren, Madhav V. Rajan
7th Edition
1292232668, 978-1292232669
