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Margie Pagano is buying a car. Her June monthly interest at 12.5% was \$201. What was Margie’s principal balance at the beginning of June? (Use 360 days a year. Do not round intermediate calculations. Do not round the denominator before dividing. Round your answer to 2 decimal places. Omit the "\$" sign in your response.)

Explanation:

\$201 \$201
_________________ =____________ = = \$19,296.00
0.125 × 30/360 0.0104167

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