Question
Matty Kaminsky owns a new Volvo. His June monthly interest was $400. The rate is 8 ½ percent. Matty's principal balance at the beginning of June is: (Use 360 days)
Answers
Mayhah
Let Matty's principle be $P
Px 8.2%/12= 400
Then solve for P
Px 8.2%/12= 400
Then solve for P