Mathematics, 23.06.2019 11:00, DKLDDD1720
Money is borrowed at 9% simple interest. after one year, $1178.29 pays off the loan. how much was originally borrowed?
Answers: 1
![\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](/tpl/images/0007/7367/dc6a0.png)
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Money is borrowed at 9% simple interest. after one year, $1178.29 pays off the loan. how much was or...
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