Solve the Problem

question 258

Multiple Choice

Solve the problem. Assume that simple interest is being calculated in each case. Round the answer to the nearest cent
unless otherwise indicated.
-John forgot to pay his $408.00 income tax on time. The IRS charged a penalty of 5% for the 74 days the money was late. Find the penalty that was paid. (Use a 365 day year.)

Definitions:

Endorphins

Natural, pain-relieving chemicals produced by the body during stress, exercise, or pain, promoting feelings of well-being and reduce discomfort.

Morphine

A powerful pain-relieving medication derived from opium, used to treat severe pain.

Gate-Control Theory

A theory that suggests pain is not solely a result of physical injury but is also affected by psychological factors; it proposes that pain signals pass through neural "gates" in the spinal cord.

Spinal Cord

A long bundle of neurons that carries messages between the body and the brain and is responsible for very fast, lifesaving reflexes.