Solve the problem.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 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?

Question

A. $99.00
B. $101.10
C. $99.73
D. $100.09

Answer 1

Answer: D