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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 $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 $255.94. What was the amount of the loan?
asked 8.0k views
1 vote
Victor borrowed money at 5.25 percent simple annual interest. At the end of the year, the interest on the loan $255.94. What was the amount of the loan?

asked
User Dontcare
by
7.9k points

1 Answer

1 vote

Answer:

$243.17

Explanation:

X+(X*5.25/100)=255.94

Make x the subject

X=243.17

answered
User Skynetch
by
7.9k points
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