Harry's Carpet company is offering a special promotion. Interest charges are added to the balance each month, becoming part of the balance for the next month. If you pay off the original purchase
Within 3 months, all interest charges are cancelled. Suppose your original purchase is $3000 and the
Monthly interest rate is 1.1%. If you pay off the account one day late, what is the total interest paid,
Ignoring the last day's interest?
A) $101.10
B) $100.09
C) $99.00
D) $99.73
Correct Answer:
Verified
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