Rochelle Destin bought a new Buick Enclave. Her monthly January interest was $294.00. The current rate of interest is 9%. Assuming a 360-day year, what was Rochelle's balance at the beginning of January?

Name: Rochelle Destin bought a new Buick Enclave. Her monthly January interest was $294.00. The current rate of interest is 9%. Assuming a 360-day year, what was Rochelle's balance at the beginning of January?
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Quizplus · Accepted Answer

P = 294 / (.09 × 30/360)= $39,200

Rochelle Destin Bought a New Buick Enclave