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Mathematics 9 Online
OpenStudy (anonymous):

Money is borrowed at 13% simple interest. After one year, $928.86 pays off the loan. How much was originally borrowed?

OpenStudy (anonymous):

$120.75

OpenStudy (anonymous):

(13% interest) I did this because per cent means per hundred. So, I divided it by 100. Which is 0.13. So if you want to find the original, you have to multiply it by that. $928.86/0.13 is 120.7518, rounded to $120.75

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