Ron tagney owns his own truck. his june interest is $210. the current rate of interest is 11%. assuming a 360 day year, what was ron's principal balance at the beginning of june?

Ron's principal balance at the start of June was $22,909.09

Step-by-step explanation:

The simple interest formula is given by:

In which E are the earnings(interest), P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time, in years.

In this problem, we have that:

His June interest is $210, so .

The current rate of interest is 11%, so

June has 30 days, and we are assuming 360 days an year. So

We want to find P

Ron's principal balance at the start of June was $22,909.09

the answer is the third / last answer

step-by-step explanation:

no solution

step-by-step explanation:

there is not enough information in the problem to solve.