October 9, 2015

Homework Help: Math

Posted by Lulu on Saturday, June 22, 2013 at 4:16pm.

Molly Ellen, bookkeeper for Keystone Company, forgot to send in the payroll taxes due on April 18. She sent the payment November 8. The IRS sent her a penalty charge of 8% simple interest on the unpaid taxes of $5,900.

Calculate the penalty. (Remember that the government uses exact interest

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