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16 × 8 https/ Evander Holyfield (the champion boxer who had part of his ear bitten off by Mike Tyson) made $250 million during his boxing career but declared bankruptcy because of poor nancial choices. His July interest at 6% was S930, what was E and s pal at the g of August (assume 360 days)? (Use 360 days a year. Do not round intermediate calculations. Round your answer to the S 18,000 .00
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Answer #1

Interest amount is not clearly visible, hence it is taken as 9.30

Interest for July at 6% is $9.30

Number of days in the month of July = 31

Interest = Principal * Interest Rate * Number of days / Total days in an year

9.30 = Principal * 6%*31/360

Principal = 9.30 * 360/31 /6%

Principal at the beginning of July = 1800

Principal for the month of August = 1800

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