Question

Gudenas Company makes a credit card sale to a customer for $500. The credit card sale has a grace period of 30 days and then an interest charge of 18% per year or 1.5% per month is added to the balance. If the unpaid balance on the above sale is $300 at the end of the grace period, the interest charge is?

Answer 1

The interest charge is $4.50

Step-by-step explanation:

interest charged = 300*1.5%

= $4.50

Therefore, The interest charge is $4.50