Asked by Ekanki

Margie Pagano is buying a car. Her June monthly interest at 12.5% was $201. What was Margie’s principal balance at the beginning of June? (Use 360 days a year. Do not round intermediate calculations. Do not round the denominator before dividing. Round your answer to 2 decimal places. Omit the "$" sign in your response.)
Answered by Ekanki

Explanation:

$201 $201
_________________ =____________ = = $19,296.00
0.125 × 30/360 0.0104167

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