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Ilya [14]
3 years ago
13

Money is borrowed at 9​% simple interest. After one​ year, ​$1178.29 pays off the loan. How much was originally​ borrowed?

Mathematics
1 answer:
qwelly [4]3 years ago
7 0

\bf ~~~~~~ \textit{Simple Interest Earned Amount} \\\\ A=P(1+rt)\qquad \begin{cases} A=\textit{accumulated amount}\dotfill&1178.29\\ P=\textit{original amount deposited}\dotfill \\ r=rate\to 9\%\to \frac{9}{100}\dotfill &0.09\\ t=years\dotfill &1 \end{cases} \\\\\\ 1178.29=P(1+0.09\cdot 1)\implies 1178.29=P(1.09)\implies \cfrac{1178.29}{1.09}=P \\\\[-0.35em] \rule{34em}{0.25pt}\\\\ ~\hfill 1081=P~\hfill

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Step-by-step explanation:

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Step by Step Solution

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Reformatting the input :

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Non Integer Exponent Not Yet Implemented

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Program Execution Terminated

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Step-by-step explanation:

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Step-by-step explanation:

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