document.write( "Question 1145189: Money is borrowed at 11% simple interest. After one year, $1292.04 pays off the loan. How much was originally borrowed? \n" ); document.write( "

Algebra.Com's Answer #766403 by ikleyn(52832) $\"\"$ $\"About$

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document.write( "Let x be the originally borrowed amount.\r\n" );
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document.write( "Then you have this equation for the amount after 1 year\r\n" );
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document.write( "    x + 0.11x = 1292.04  dollars,   or\r\n" );
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document.write( "    x*(1 + 0.11) = 1292.04 dollars\r\n" );
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document.write( "    1.11x        = 1292.04\r\n" );
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document.write( "       x         = .\r\n" );
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document.write( "At this point, use your calculator/computer to find x and to get the answer.\r\n" );
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\n" ); document.write( "\n" ); document.write( "Notice. In this solution, 0.11 represents 11%.\r
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\n" ); document.write( "\n" ); document.write( "On this subject, see the lesson\r
\n" ); document.write( "\n" ); document.write( " - Simple interest percentage problems \r
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