Deep's property tax is $690.65 and is due April 15. He does not pay until July 6. The county adds a penalty of 7.3% simple interest on unpaid tax. Find the penalty Deep will pay. (Assume there are 365 days in a year.)
(Round to the nearest cent.)

Question

jilliangoodman jilliangoodman

27-03-2017
Mathematics

contestada

Deep's property tax is $690.65 and is due April 15. He does not pay until July 6. The county adds a penalty of 7.3% simple interest on unpaid tax. Find the penalty Deep will pay. (Assume there are 365 days in a year.)
(Round to the nearest cent.)

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jdoe0001 jdoe0001 · Answer 1 · 2017-03-27T01:17:19+02:00

[tex]\bf \qquad \textit{Simple Interest Earned}\\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\\ P=\textit{original amount deposited}\to& \$690.65\\ r=rate\to 7.3\%\to \frac{7.3}{100}\to &0.073\\ t=years\to &\frac{15+31+30+6}{365} \end{cases}[/tex]

the penalty he'll incurred into, since July 6 is after the deadline of April 15, is I = Prt

now "t" is in years, how many days after April 15 to July 6? well, 15 + 31 + 30 +6, to convert to years, divide by 365

Deep's property tax is ​$690.65 and is due April 15. He does not pay until July 6. The county adds a penalty of 7.3​% simple interest on unpaid tax. Find the penalty Deep will pay. ​ (Assume there are 365 days in a​ year.) ​(Round to the nearest ​cent.)

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Deep's property tax is $690.65 and is due April 15. He does not pay until July 6. The county adds a penalty of 7.3% simple interest on unpaid tax. Find the penalty Deep will pay. (Assume there are 365 days in a year.)
(Round to the nearest cent.)