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27 December, 21:21

Bella forgot to pay her college account of $1,800 until it was 70 days overdue. She was charged a penalty of $59.50. Find the rate of interest that was charged as a penalty. Assume a 365-day year. Round to the nearest tenth of a percent.

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  1. 28 December, 00:31
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    17.2%, 59.50 / 70 x 365 = 310.25. 310.25/1800 x 100 = 17.2.
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