“Dollar Bill” Stearn was convicted of tax evasion. As of January, 2017, he owed the U.S. Treasur ...

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“Dollar Bill” Stearn was convicted of tax evasion. As of January, 2017, he owed the U.S. Treasury a total of $14 million in back taxes. The payment agreement requires him to pay back $1.5 million each year on January 1, beginning in 2018. Federally mandated interest charges add 10% to his bill every December 31. (a) How many millions of dollars does he owe on the morning of January 2 of each of these years?