A customer charges a treadmill at Marigold's Sport Shop. The price is $10000 and the financing charge is 3% 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

$25

Explanation:

The customer fails to pay the $10,000 × .03 × 30/360 = $25bill within 30 days and a finance charge is added to the customer's account.

$10,000 × .03 × 30/360 = $25

you will have $2593.74 in 10 years if you set aside $1,000 at 10%

you will have $9321.91 in 20 years if you set aside $2000 at 8%

you will have $1469.32 in 5 years if you set aside $1000 at 8%

you will have $1296.87 in 10 years if you set aside $500 at 10%

you will have $239.66 in 15 years if you set aside $100 at 6%

you will have $4660.96 in 20 years if you set aside $1000 at 8%

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