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2 June, 23:48

Money is borrowed at 12

%

simple interest. After one year, $1023.68

pays off the loan. How much was originally borrowed?

+4
Answers (2)
  1. 2 June, 23:49
    0
    1023.68 is 112% is the equation
  2. 3 June, 00:04
    0
    Because 1023.68 is 112% of the loan, you can divide by 1.12 to get 914, which is the answer
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