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lilavasa [31]
3 years ago
5

2. Zach filed his individual federal tax return for the year ending December 31, 2018 on April 15, 2019 and he owed $25,000. As

of December 15, 2019 he still has not paid any of his tax liability. How much does Zach owe as of December 31, 2019
Business
1 answer:
jeyben [28]3 years ago
4 0

Answer:

$26,125

Explanation:

[($25,000 x 0.005) x 9 + $25,000]

=$26,125

Zach owe $26,125 as of December 31, 2019 because he did not fail to file - he failed to pay. Hence he owes the 0.5% per month or part of a month failure to pay penalty plus the already outstanding tax amount of $25,000 that he owed.

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My answer -

it determines how much they charge you in interest if you carry a balance. Lower is better. The percentage interest is what they charge you each month, “annual percentage rate” is what you’re paying if you keep that balance for a year. It’s slightly different because in that year, you’re also paying interest on the amount of interest (compound interest) you owe in the previous months.

Not carrying a balance means that you don’t pay interest.


p.s

Let me know if you need anymore help on brainly so I can help you again. Have an AWESOME!!! day :^)


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