If the manufacturer from the question above charges a 4½% late fee, how much would City Cellular owe if it did not pay the balance by the net date? (Points : 2.5)
Where is the "question above"?
To calculate the late fee that City Cellular would owe, we first need to determine the balance. To do this, we would need more information about the balance amount. Without the balance amount, it is not possible to calculate the late fee accurately.
However, if you have the balance amount, you can simply multiply it by the late fee percentage of 4½% (or 0.045) to find the late fee amount.
For example, if the balance amount is $1000, the late fee would be calculated as:
Late Fee = Balance Amount x Late Fee Percentage
Late Fee = $1000 x 0.045
Late Fee = $45
Therefore, City Cellular would owe a late fee of $45 if it did not pay the balance by the net date.