# Simple intrest

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Bill Moore is buying a van. His April Monthly intrest at 12% was \$125.00 What was Bills principal balance at the beginning of April Uese 360 days

• Simple intrest -

0.12 interest per 360 days =
0.12 x (30/360) for April which has 30 days.
Then 0.12*loanamt x (30/360)= 125
solve for loanamt. I get 12,500.
Check my thinking.

• Simple intrest -

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