Register
Money is borrowed at 12 ​% simple interest. After one​ year, ​$1023.68 pays off the loan. How much was originally​ borrowed?
174k views
0 votes
Money is borrowed at 12

​%
simple interest. After one​ year, ​$1023.68

pays off the loan. How much was originally​ borrowed?

User Arnav Yagnik
by
8.8k points

2 Answers

2 votes
1023.68 is 112% is the equation

User Yurii Buhryn
by
8.2k points
3 votes
Because 1023.68 is 112% of the loan, you can divide by 1.12 to get 914, which is the answer
User Calen
by
8.3k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.5m questions

12.2m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
Link Copied!