Mariah P.
asked 08/29/22
money is borrowed at 14% simple interest. after one year, $907.44 pays off the loan. how much was originally borrowed?
Raymond B.
answered 08/29/22
Math, microeconomics or criminal justice
907.44 = P(1.14)
P= 907.44/1.14
= $796 = original loan
14% = 0.14
.14(796) = 111.44 simple interest
loan + interest = amount paid back
796+111.44 = $907.44
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