Question

money is borrowed at 17% interest, After 1yr 1210.95 pays off the loan. How much $ was originally borrowed?

Answer 1

I'm not sure if this is yearly interest? But if it is, you have 17% interest which means your money is going up by that amount. Convert 17% into a decimal and you get 0.17. To find your initial borrowed money, you divide your money obtained after a year by 1.17 (117%).

\[1210.95/1.17 = $\]