The customer fails to pay the bill within 30 days and a, Ask an Expert

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A customer charges a treadmill at Mike's Sport Shop. The price is $1,000 and the financing charge is 9% per annum if the bill is not paid in 30 days. The customer fails to pay the bill within 30 days and a finance charge is added to the customer's account.

What is the amount of the finance charge?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9404569

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