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carol miller went to europe and forgot to pay her 4740 mortgage payment on her new hampshire house,. for her 59 days overdue on...Asked by jeff
Carol Miller went to Europe and forgot to pay her $850 mortgage payment on her New Hampshire ski house. For her 55 days overdue on her payment, the bank charged her a penalty of $26. (assume 360 days).
What was the rate of interest charged by the bank?
Answers
Answered by
bobpursley
Overdue penalties are not interest.
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