SOLUTION: A department store charges 21.9% annual rate for overdue accounts. How much interest will be owed on a $6,168 account that is 2 months overdue?
Algebra.Com
Question 207822: A department store charges 21.9% annual rate for overdue accounts. How much interest will be owed on a $6,168 account that is 2 months overdue?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
.219/12*2=.0365 interest for two months
6168*.0365=$225.13
RELATED QUESTIONS
A total of $12,000 is invested in two accounts. The interest rate on one account is 9%;... (answered by mananth)
I am having a problem of putting the following into an linear equation. A company... (answered by htmentor)
Mae Jackson has a total of $6000 invested in two simple interest accounts. The annual... (answered by checkley77)
I have a total of $6000 invested in two simple interest accounts. The annual simple... (answered by drk)
Mae Jackson has a total of $6000 invested in two simple interest accounts. The annual... (answered by jorel1380)
a total of $8000 is invested into two simple interest accounts. On one account the annual (answered by mananth)
A total of $5500 was deposited into two simple interest accounts.
On one account the... (answered by ikleyn)
A total of $9,500 is deposited into two simple interest accounts. On one account, the... (answered by ikleyn)
Please help me with this equation: You have a total of $5000 invested in two simple... (answered by Theo)