SOLUTION: If a bank made an interest earning of $1437.50 after one year on a loan with 5.75% simple interest, how much was the original loan?

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Question 716462: If a bank made an interest earning of $1437.50 after one year on a loan with 5.75% simple interest, how much was the original loan?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
If a bank made an interest earning of $1437.50 after one year on a loan with 5.75% simple interest, how much was the original loan?
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I = Prt
1437.50 = P*0.0575*1
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P = $25,000
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Cheers,
Stan H.