Quincy's property tax is $665 and is due on April 25. He does not pay until July 19. The county adds a penalty of 9.9% simple interest on unpaid tax. Find the penalty Quincy will pay. (Assume that there are 365 days in a year. Round to the nearest cent.)

Question

Quincy's property tax is $665 and is due on April 25. He does not pay until July 19. The county adds a penalty of 9.9% simple interest on unpaid tax. Find the penalty Quincy will pay. (Assume that there are 365 days in a year. Round to the nearest cent.)

The penalty Quincy will pay is __________

(January, March, May, July, August, October, and December have 31 days. April, June, September, and November have 30 days. February usually has 28 days.)

Answer 1

The interest for n days is

665 * 0.099/365 * n

So, figure out how many days of interest he has to pay.