Real estate tax $2,010.88 was due December 14, 2022. Lorna lost her job and could not pay her tax bill until February 27, 2023. The penalty for late payment is 6 1/2% ordinary interest. What is the penalty Lorna must pay? What is the total amount Lorna must pay on February 27?

Elementary Algebra
17th Edition
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:Lynn Marecek, MaryAnne Anthony-Smith
Chapter3: Math Models
Section3.2: Solve Percent Applications
Problem 3.43TI: Sean’s new car loan statement said he would pay $4,866.25 in interest from an interest rate of 8.5%...
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Real estate tax $2,010.88 was due December 14, 2022. Lorna lost her job and could not pay her tax bill until February 27, 2023. The penalty for late payment is 6 1/2% ordinary interest. What is the penalty Lorna must pay? What is the total amount Lorna must pay on February 27?

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