A fee charged for not paying a bill is commonly referred to as _____. (1 point) a) late payment/missed fee b) bad debt fee c) accrued interest d) debtor’s fee Interest charged when you miss a payment is called _____. (1 point) a) accrued interest b) late interest c) past due interest d) late payment interest Your original purchase price was $825.00 plus 7% sales tax. You entered into an agreement where the interest (12.5% APR) is waived for the first 12 months, provided you make the required monthly payments. If you miss the first payment due date, a late fee of $35.00 will apply. How much is the interest? (1 point) a) $103.13 b) $110.34 c) $8.59 d) $9.22 How much is the interest if you do not pay in the second month? (1 point) a) $9.05 b) $9.68 c) $121.53 d) $143.70

Feb 08, 2025

Help with consumer math I graduate in a week and need to pass this class?

A fee charged for not paying a bill is commonly referred to as _____. (1 point)
a) late payment/missed fee
b) bad debt fee
c) accrued interest
d) debtor’s fee
Interest charged when you miss a payment is called _____. (1 point)
a) accrued interest
b) late interest
c) past due interest
d) late payment interest
Your original purchase price was $825.00 plus 7% sales tax. You entered into an agreement where the interest (12.5% APR) is waived for the first 12 months, provided you make the required monthly payments. If you miss the first payment due date, a late fee of $35.00 will apply. How much is the interest? (1 point)
a) $103.13
b) $110.34
c) $8.59
d) $9.22
How much is the interest if you do not pay in the second month? (1 point)
a) $9.05
b) $9.68
c) $121.53
d) $143.70

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Feb 09, 2025

Take the first problem; You should get accrued interest

Good luck!

Dec 08, 2024

The correct answers are:

1. A

2. A

3. D

4. B

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