Given:
A sum of $11,000 is borrowed for 160 days
And the annual simple interest rate = 9%
So, P = 11000, r = 9% = 0.09
Time = t = 160/360 = 4/9
The interest will be calculated as follows:
So, the maturity value will be as follows:
So, the answer will be:
The maturity value = $11,440