Question

states the rate of interest charged by the vendor on the unpaid amount​

Answer 1

Explanation:

Don't charge more than 10% interest per year. Some states restrict the amount you can charge in late fees, but you're likely safe if you cap rates at 10%.

Don't charge more than 10% interest per year. Some states restrict the amount you can charge in late fees, but you're likely safe if you cap rates at 10%.Try waving a carrot instead of a stick by offering a discount for either full payment upfront or within 30 days. Sometimes incentives to pay early or on time can be more effective than threats of fees and interest charges.