SOLUTION: 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 char ge of 8% simple

SOLUTION: 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 char ge of 8% simple

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Question 1111267: 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 char ge of 8% simple interest on the unpaid taxes of $4,100. Calculate the
penalty. (Remember that the government uses exact interest.)
Answer by amalm06(224) (Show Source): You can put this solution on YOUR website!
8%=0.08
Therefore, 0.08*4100=$328 (Answer)
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