Question: Your total payment on a 6-year loan, which charged 8% annual simple interest, amounted to $20,160. How much did you originally borrow? HINT [See Example

Your total payment on a 6-year loan, which charged 8% annual simple interest, amounted to $20,160. How much did you originally borrow? HINT [See Example 4.] (Round your answer to the nearest cent.)

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