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Money is borrowed at 12 % simple interest. After one year, $1023.68 pays off the loan. How much was originally borrowed?
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Jul 19, 2018
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Money is borrowed at 12
%
simple interest. After one year, $1023.68
pays off the loan. How much was originally borrowed?
Mathematics
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Arnav Yagnik
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1023.68 is 112% is the equation
Yurii Buhryn
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Jul 20, 2018
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Because 1023.68 is 112% of the loan, you can divide by 1.12 to get 914, which is the answer
Calen
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Jul 24, 2018
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Calen
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