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1. Woody's Café's real estate tax of $1,110.85 was due on November 1, 2013. Due to financial problem Woody was unable to pay his café's real estate tax bill until January 15, 2014. The penalty for lat payment is 81/4% ordinary interest. Answer the following questions: (a) how much is the penalty Woody must pay and (b) what did Woody pay on January 15? Round all answers to the nearest.

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The first step is to count the number of days over the period. From November 1, 2013 to January 15, 2014, there are 29 + 31...

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