SOLUTION: If monthly interest was $400. and the Rate is 8.5%. What was the principle balance at the beginning of that month?
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Question 520624
:
If monthly interest was $400. and the Rate is 8.5%. What was the principle balance at the beginning of that month?
Found 2 solutions by
edjones, tonyboy2001
:
Answer by
edjones(8007)
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Show Source
):
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put this solution on YOUR website!
.085p/12 = 400
.085p=4800
p=$56,470.59
.
Ed
Answer by
tonyboy2001(1)
(
Show Source
):
You can
put this solution on YOUR website!
.085p/12-400
085p=4800
p-56,470.59