heyhi1234 heyhi1234
  • 10-03-2018
  • Mathematics
contestada

You purchased merchandise from a suppler and failed to pay the invoice amount $310 by the last day of the credit period, August 12. Calculate the total amount you must pay on October 15 if the suppler charges 18% interest on past-due accounts.

Respuesta :

sqdancefan
sqdancefan sqdancefan
  • 10-03-2018
After 64 days, you will owe
.. 310*(1 +0.18*64/365) = 319.78

You must pay $319.78 on October 15.
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