State Bank made a loan at 12% interest for 360 days. If the amount of interest was $937.80, use the ordinary interest method to find the amount of principal borrowed

Elementary Algebra
17th Edition
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:Lynn Marecek, MaryAnne Anthony-Smith
Chapter3: Math Models
Section3.2: Solve Percent Applications
Problem 3.43TI: Sean’s new car loan statement said he would pay $4,866.25 in interest from an interest rate of 8.5%...
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State Bank made a loan at 12% interest for 360 days. If the amount of interest was $937.80, use the ordinary interest method to find the amount of principal borrowed. (Round to the nearest whole dollar.)
a $7,713
b $7,815    
c $8,875
d $9,738
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