Solve the Problem

question 214

Multiple Choice

Solve the problem. Assume that simple interest is being calculated in each case. Round your answer to the nearest cent.
-John forgot to pay his $413.00 income tax on time. The IRS charged a penalty of 3% for the 35 days The money was late. Find the penalty that was paid. (Use a 365 day year.)

• A) $414.19
• B) $0.14
• C) $1.15
• D) $1.19

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Definitions:

Footbridge Dilemma

A moral decision-making scenario used in psychology to explore ethical reasoning, wherein one must choose whether to sacrifice one life to save others.

Moral Dilemma

A situation in which a difficult choice has to be made between two or more actions, each of which is morally challenging or compromising.

Emotional Intelligence

The capacity to identify, comprehend, control, and logically interact with one's own emotions and those of other people.

Polygraph Administrators

Individuals trained to conduct polygraph tests, which are used to measure physiological responses that may indicate whether a person is telling the truth.