Question
Schwartzman Co., makes a credit card sale to a customer for $600. The credit card sale has a grace period of 30 days and then
Schwartzman Co., makes a credit card sale to a customer for $600. The credit card sale has a grace period of 30 days and then an interest charge of 1.5% per month is added to the balance. If the unpaid balance on the above sale is $480 at the end of the grace period, the interest charge is
a. $4.80.
b. $12.00.
c. $8.00.
d. $7.20.
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Option D is correct Full Explanation Given data Credit card sal...
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Business Statistics A Decision Making Approach
Authors: David F. Groebner, Patrick W. Shannon, Phillip C. Fry
9th Edition
013302184X, 978-0133021844
