According to sfus fees and tuition policy outstanding fees, Finance Basics

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According to sfus fees and tuition policy outstanding fees

Question: According to SFU's Fees and Tuition policy, outstanding fees must be paid by the due date of each term. A late fee interest will be assessed on the outstanding overdue balance on your account. The rate is 2% per month (nominal rate) or 18% per annum (effective rate). How often is interest compounded?

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