Your electric bill is $136. you are charged 14% simple interest for late payments. how much do you owe if you pay the bill 1 month past the due date? (round your answer to two decimal places.)

This question is based on the concept of simple interest. Therefore, the bill we have to pay  1 month past from the due date is  $155.04.

Given:

Electric bill is $136. Charged 14% simple interest for late payments.

We need to determined the owe if we pay the bill 1 month past from the due date.

According to question,

It is given that, electric bill = $136

Simple interest = 14%

Now, for calculating  the bill of 1 month past the due date.

We would be added electric bill and 14% of electric bill .

We get,

⇒ 136 + 14% of 136                            ...(1)

Now calculated the 14% of 136.

We get,

Now solve the equation (1).

We get,

136 + 19.04 = $155.04

Therefore, the bill we have to pay  1 month past from the due date is  $155.04.

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