Money is borrowed at %18 simple interest. After one year, $981.76 pays off the loan. How much was originally borrowed?

Lanie asked Oct 1, 2023

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Lanie asked Oct 1, 2023

by Lanie

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10 votes

Answer:

$805.0432

Explanation:

118% was paid, so the original would be 82% of 981.76 (100-18), which is $805.0432 (rounds to $805.04)

Nodws answered Oct 6, 2023

by Nodws

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