A business regularly extends credit to customers for large purchases with a standard interest rate of 5 percent. There is also a $200 installment fee that is added to the total cost of the purchase. The customer signs the paperwork but returns the next day saying that the installment fee is too high. Does the customer still have to pay it?%0D%0A%0D%0A(1 point)%0D%0AResponses%0D%0A%0D%0AYes, the customer has signed a contract.%0D%0A%0D%0AYes, the customer has signed a contract.%0D%0A%0D%0ANo, customers have the right to reject unreasonable fees.%0D%0A%0D%0ANo, customers have the right to reject unreasonable fees.%0D%0A%0D%0ANo, the customer is always right so the business should adjust.%0D%0A%0D%0ANo, the customer is always right so the business should adjust.%0D%0A%0D%0AYes, the business has the right to charge whatever it wants for credit.
Yes, the customer still has to pay the installment fee. The customer signed the paperwork agreeing to the terms of the credit agreement, which includes the installment fee. Once the paperwork is signed, it becomes a legally binding contract between the customer and the business.
