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What apr did the company pay

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Fred, the accountant for XYZ Company forgot to pay a credit card payment that was due in the amount of $575. He noticed it exactly 1 month later when he was making the monthly payment. The late fee charged as $35. If you consider the $35 late fee a charge for the month of interest on the $575, what APR did the company pay because of Fred's mistake?

Reference no: EM132499494

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What apr did the company pay : If you consider the $35 late fee a charge for the month of interest on the $575, what APR did the company pay because of Fred's mistake?
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