Question

How long after the due date does a customer have to pay without penalty?

A) 7 days
B) 14 days
C) 30 days
D) 60 days

Answer 1

A customer typically has 14 days after the due date to pay without penalty.

Step-by-step explanation:

If a payment is late, the credit card company charges $10. Additionally, they charge $5 per day for each day the payment remains unpaid.

Based on this information, it is important to note that the question does not provide the specific due date. However, if we assume the due date is the day the payment should have been made, then a customer would have to pay within 5 days after the due date to avoid any penalty. This is because the $5 per day charge starts from the day after the due date.

Therefore, the correct answer would be option B) 14 days since it allows a 7-day grace period after the due date before the penalty charges begin.