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QUESTION

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. Rou

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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