Question

A customer charges a treadmill at Marigold's Sport Shop. The price is $10000 and the financing charge is 3% per annum if the bill is not paid in 30 days. The customer fails to pay the bill within 30 days and a finance charge is added to the customer's account. What is the amount of the finance charge

Answer 1

$25

Step-by-step explanation:

The customer fails to pay the $10,000 × .03 × 30/360 = $25bill within 30 days and a finance charge is added to the customer's account.

$10,000 × .03 × 30/360 = $25