Alex was late on his property tax payment to the county. He owed $2,649 and paid the tax 8 months late. The county charges a penalty of 11% simple interest. Find the amount of the penalty.Alex will have to pay a penalty of $(Round to the nearest cent as needed.)

Answered: Alex was late on his property tax…

Elementary Geometry For College Students, 7e

7th Edition

ISBN:9781337614085

Author:Alexander, Daniel C.; Koeberlein, Geralyn M.

Publisher:Alexander, Daniel C.; Koeberlein, Geralyn M.

ChapterP: Preliminary Concepts

SectionP.CT: Test

Problem 1CT

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Alex was late on his property tax payment to the county. He owed $2,649 and paid the tax 8 months late. The county charges a penalty of 11% simple interest. Find the amount of the penalty. Alex will have to pay a penalty of $ (Round to the nearest cent as needed.)