Calculate the maturity value of a loan if borrowing 5000 at 7% simple interest for 48 months

asked Sep 22, 2018 195k views

1 vote

by Sunni

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6 votes

A=p (1+rt)
A maturity value
P principle 5000
r interest rate 0.07
T Time 48/12

A=5,000×(1+0.07×(48÷12))
A=6,400

Norlin answered Sep 24, 2018

5.6k points

5 votes

the total is 6400, but if subtracted, its 1400

Vihkat answered Sep 29, 2018

5.9k points

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