Natalia’s aunt went to Europe and forgot to pay her $840 mortgage payment on her New Hampshire ski house. For her 76 days overdue on her payment, the bank charged her a penalty of $13. What was the rate of interest charged by the bank? (Use 360 days a year. Do not round your intermediate calculations. Round your answer to the nearest hundredth percent.)

Natalia’s aunt went to Europe and forgot to pay her $840 mortgage payment on her New Hampshire ski house. For her 76 days overdue on her payment, the bank charged her a penalty of $13. What was the rate of interest charged by the bank? (Use 360 days a year. Do not round your intermediate calculations. Round your answer to the nearest hundredth percent.)

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter2: Income Tax Concepts

Section: Chapter Questions

Problem 37P

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