Compute the specified quantity. Your total payment on a 3 year loan, which charged 7% annual simple interest, amounted to $60,360. How much did you originally borrow (in dollars)? (Round your answer to the nearest cent.) $ ______________

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section7.7: Simple And Compound Interest
Problem 14E
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Compute the specified quantity.
Your total payment on a 3 year loan, which charged 7% annual simple interest, amounted to $60,360. How much did you originally borrow (in dollars)? (Round your answer to the nearest cent.)
$ ______________
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