Matty Kaminsky owns a new Volvo. His June monthly interest is $400. The rate is 8 ½%. Matty's principal balance at the beginning of June is (use 360 days):
A) $65,740.85
B) $64,470.85
C) $65,704.85
D) $56,470.85
E) None of these

Question

Quizplus · Accepted Answer

The Answer of Matty Kaminsky owns a new Volvo. His June monthly interest is $400. The rate is 8 ½%. Matty's principal balance at the beginning of June is (use 360 days):
A) $65,740.85
B) $64,470.85
C) $65,704.85
D) $56,470.85
E) None of these

Matty Kaminsky Owns a New Volvo