“Thank you for calling. I would be happy to help you set up a payment plan. According to our records, you currently owe $250 in back payments plus an additional 20% in late fees. Your next bill for $125 is due in two weeks.”
Customer: “Okay. Can I pay the past due amount and late fees over the next six months? I could include the additional amount in my monthly payment.”
Representative: “Yes, we will allow you to repay over six months. All right, your monthly total for the next six months, which will begin with your next scheduled payment in two weeks, is __________. After six months,
your payment will return to normal.”
$175
because 20% of $250 is $50, so total amount already owed is $300. Spread over 6 months, that is $50/mnth. Plus the usual $125 payment, so total monthly payment = $175.
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Asked 1/24/2012 6:48:51 PM
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