document.write( "Question 571377: I am in business math and for the life of me I cannot figure out how to do this problem! Please help! Margie is buying a car. Her June monthly interest at 12 1/2% was $195. What was Margie's principal balance at the beginning of June? Please don't answer in Algebra, because I won't understand it. Thank you for your help. \n" ); document.write( "

Algebra.Com's Answer #368069 by Edwin McCravy(20056) $\"\"$ $\"About$

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I am in business math and for the life of me I cannot figure out how to do this problem! Please help! Margie is buying a car. Her June monthly interest at 12 1/2% was $195. What was Margie's principal balance at the beginning of June? Please don't answer in Algebra, because I won't understand it. Thank you for
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document.write( "The 12.5% is for a year. \r\n" );
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document.write( "As a decimal that is .125\r\n" );
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document.write( "To get the percent interest for 1 month we divide the interest\r\n" );
document.write( "rate for a year by 12\r\n" );
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document.write( ".125÷12 = .0105166667\r\n" );
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document.write( "So the balance at the first of June was multiplied by that decimal\r\n" );
document.write( "to get the $195 interest for the month.\r\n" );
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document.write( "So to find out what was multiplied by .0105166667 to get $195,\r\n" );
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document.write( "we divide 195÷.0105166667 and get $18720\r\n" );
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document.write( "Edwin

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