Asked by LaDonna
Bill Moore is buying a used Winnebago. His April monthly interest at 7.50% was $37.50. What was Bill’s principal balance at the beginning of April? (Use 360 days a year. Do not round intermediate calculations.)
Answers
Answered by
Reiny
Monthly interest at 7.5 % ?
Rather absurd, I would say.
Are you sure the rate wasn't compounded monthly?
Rather absurd, I would say.
Are you sure the rate wasn't compounded monthly?