All charges to your account are due and payable within 30 days of the date of your monthly statement on which they first appear and no FINANCE CHARGE is made if paid within said period. After said 30 day period the unpaid charges are past due and a service charge is made thereon. Such a charge is interpreted under the law as a FINANCE CHARGE. The late payment “FINANCE CHARGE” is computed at a periodic rate of 1 ½% per month (ANNUAL PERCENTAGE RATE OF 18%) on the balance subject to the FINANCE CHARGE. Prompt payment of your monthly billing is appreciated and assures you that no late payment “FINANCE CHARGE” will be applied to your account.