Question

Check my Molly Ellen, bookkeeper for Keystone Company, forgot to send in the payroll taxes due on April 15. She sent the payment November 8. The IRS sent her a penalty charge of 8% simple interest on the unpaid taxes of $4,100. Calculate the penalty (Remember that the government uses exact interest) (Use Days in a year table) (Do not round Intermediate calculations. Round your answer to the nearest cent.) Penalty

Answer 1

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ANS Penalty IS6.02 ering Unpaid tanes a movnd 4100 Numben of day^ j a yean : 365 days tanUmben ef doys fen Penakry leyiabk fnor APs-15 toNov-8: APOi1 15 days may 3 duy JUne 30 day July 31 dey Auy 3days 30 drys Sept oCt 31 days das 20 days 4100 K8) 20 365 Henc, Penaly I86 02

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