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Darya [45]
3 years ago
10

Maggie Jay owns her own car. Her June monthly interest was $250. The rate is 13 1/2 percent. Jay's principal balance at the begi

nning of June is: (Use 360 days)
Mathematics
1 answer:
JulsSmile [24]3 years ago
5 0

Answer:

the principal balance at the beginning of June is $22,222.22

Step-by-step explanation:

The computation of the principal balance at the beginning of June is shown below:

Principal balance = Interest paid ÷ (Interest Rate ÷ 12 Months)

= $250 ÷ (13.5% ÷ 12)

= $22,222.22

Hence, the principal balance at the beginning of June is $22,222.22

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√

a

2

−

b

2

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√

8

2

−

b

2

6

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64

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