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You are late on a bill payment of 10000$. The contractor offers you two options. To have a late fee applied at: An APR of

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You are late on a bill payment of 10000$. The contractor offers you two options. To have a late fee applied at: An APR of 12% compounded monthly, An APRof 12% compounded daily. Knowing that you will pay the bill in exactly one month, which option is better for you if the month has (a) 30 days, (b) 31 days. TE

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