Round All Answers to the Nearest Cent

question 61

Short Answer

Round all answers to the nearest cent. Woody's Café's real estate tax of $1,110.85 was due on November 1, 2017. Due to financial problems, Woody was unable to pay his café's real estate tax bill until January 15, 2018. The penalty for late payment is 8 1/4% ordinary interest. (A)What is the penalty Woody will have to pay and (B)what will Woody pay on January 15?

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Definitions:

Facility Expenses

Costs associated with the physical locations where business operations occur, including rent, utilities, and maintenance of buildings and equipment.

Press Runs

The total number of copies produced in one operation or batch on a printing press.

Book Set-Ups

The initial steps or arrangements required to prepare books for financial accounting or publishing.

Wages And Salaries

Payments made to employees for their labor, comprised of regular salaries and hourly wages.