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Victor borrowed money at 5.25 percent simple annual interest. At the end of the year, the interest on the loan is $255.94. What was the amount of the loan?

Victor borrowed money at 5.25 percent simple annual interest. At the end of the year, the interest on the loan is $255.94. What was the amount of the loan?
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2 votes
Victor borrowed money at 5.25 percent simple annual interest. At the end of the year, the interest on the loan is $255.94. What was the amount of the loan?

asked
User Vinodh
by
7.4k points

2 Answers

1 vote

Answer:

The answer is $4,875.05.

Explanation:

answered
User Najih Km
by
7.9k points
3 votes

Answer:

Explanation:

The answer is $4,875.05.

4,875.05 multiplied by 0.0525 is $255.94

answered
User DRokie
by
7.2k points
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