Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman

Exercise 120

Solve the following word problems. Round to the nearest cent when necessary.
Ronald Brown missed an income tax payment of $2,600. The Internal Revenue Service charges a 15% simple interest penalty calculated by the exact interest method. If the tax was due on April 15 but was paid on July 17, what was the amount of the penalty charge