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Lucky Champ owes $ 2 3 1 . 2 0 interest on a 8 % loan he took out on his March 1 7 birthday

Lucky Champ owes $

231.20

interest on a

8 %

loan he took out on his March

17

birthday to upgrade an oven in his Irish restaurant, Lucky

s Pub and Grub. The loan is due on August

17 .

What is the principal? Use

360

days a year

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