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A man paid the bank $4,080 at the end of three years. This was the amount borrowed plus 12% interest for three years. How much money had he borrowed?
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A man paid the bank $4,080 at the end of three years. This was the amount borrowed plus 12% interest for three years. How much money had he borrowed?

User Mateusz Pryczkowski
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1 Answer

4 votes
y=4080(0.82)^3 = 2249.58

(rounded to the nearest tenth)
User Jerick
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