An accountant for a corporation forgot to pay the firm's income tax of $725,734.31 on time. The government charged a penalty of 7.2% interest for the 33 days the money was late. Find the total amount (tax and penalty) that was paid. Assume 365 days in a year The total amount paid was $ (Round to the nearest cent as needed)
An accountant for a corporation forgot to pay the firm's income tax of $725,734.31 on time. The government charged a penalty of 7.2% interest for the 33 days the money was late. Find the total amount (tax and penalty) that was paid. Assume 365 days in a year The total amount paid was $ (Round to the nearest cent as needed)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Transcribed Image Text:An accountant for a corporation forgot to pay the firm's income tax of $725,734.31 on time. The government charged a penalty of 7.2% interest for the 33 days the
money was late. Find the total amount (tax and penalty) that was paid. Assume 365 days in a year.
The total amount paid was $.
(Round to the nearest cent as needed.)
Enter your answer in the answer box.
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