Question

H and r budget challenge buckle up week quiz frank's electric bill has a cycle day of the 3rd and a due date 8 days later with a one day grace period. what happens if frank pays his electric bill on the 12th of the month?

Answer 1

His payment is late and he will be assessed a late fee

Answer 2

Answer: Franks’s electric bill will be considered paid on time.

Explanation: If Frank’s electric bill has a cycle day of the 3rd and is due 8 days later, then his due date is on the 11th of the month. Since Frank’s electric company allows him a one day grace period he can pay it the next day (on the 12th) and the payment is still considered to be paid on time.