Business Math
posted by Carleen .
Carol Miller went to Europe and forgot to pay her $740 mortgage payment on her New Hampshire ski house. For her 59 days overdue on her payment, the bank charged her a penalty of $15. What was the rate of interest charged by the bank?

I = Po*(r/360)*d = 15
740*(r/360)*59days = 15
121.3r = 15
r = 0,1237 = 12.37%.
Respond to this Question
Similar Questions

Intrest
Carol Miller went to Europe and forgot to pay her 740 mortgage payment on her New Hampshire ski house. For her 59 days overdue on her payment, the bank charged her a penality of 15 dollars. What was the rate of intrest charged by the … 
simple intrest
Carol Miller went to Europe and forgot to pay her 740 mortgage payment on her New Hampshire ski house. For her 59 days overdue on her payment, the bank charged her a penality of 15 dollars. What was the rate of intrest charged by the … 
Intrest Problem
Carol Miller went to Europe and forgot to pay her 740.00 mortgage payment on her New Hampshire ski house. For her 59 days overdue on her payment, the bank charged her a penalty of 15 dollars. What was the rate of intrest charged by … 
business math
carol miller went to europe and forgot to pay her 4740 mortgage payment on her new hampshire house,. for her 59 days overdue on her paymen. the bank charged her a penalty of $15 assume 360 days. what was the rate of interest charged … 
business math
carol miller went to europe and forgot to pay her $740 mortgage payment on her new hampshire house. for her 59 days overdue on her payment, the bank charged her a penalty of $15 (assume 360 days) what was the rate of interest charged … 
Business Maths
Carol Miller went to Europe and forgot to pay her $750 mortgage payment on her New Hampshire ski house. For her 45 days overdue on her payment, the bank charged her a penalty of $16. (assume 360 days). What was the rate of interest … 
Math
Carol Miller went to Europe and forgot to pay her $820 mortgage payment on her New Hampshire ski house. For her 52 days overdue on her payment, the bank charged her a penalty of $23. (assume 360 days). What was the rate of interest … 
bus 123
Carol Miller went to Europe and forgot to pay her $850 mortgage payment on her New Hampshire ski house. For her 55 days overdue on her payment, the bank charged her a penalty of $26. (assume 360 days). What was the rate of interest … 
business mat
Carol Miller went to Europe and forgot to pay her $740 mortgage payment on her New Hampshire ski house. For her 59 days overdue on her payment, the bank charged her a penalty of $15. What was the rate of interest charged by the bank? 
finance
You decide to buy a new home for $101000.00 at 7.5% interest rate. You feel that you can afford $800.00 for a mortgage payment. You make a down payment of $10000.00 How much will you still owe after making payments for one year. Show …