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1% equates to 1/100 of a number .

So 1% of the loan can be found by multiplying the amount of loan by 1/100.

And this is equivalent to dividing the loan amount by 100.

EXAMPLE : Say loan = $15,000, then 1% = 15000/100 = $150.

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15y ago

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Q: What is one percent of the amount of the loan?
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