Question

- Nathaniel Barnes obtained a single-

payment loan of $1,200 to purchase a
computer. He agreed to repay the loan in
120 days at an ordinary interest rate of 7%.
What is the maturity value of his loan?

Answer 1

Answer: 1.25

Step-by-step explanation: Divide 1,200 in 7 days and the aswer is 1.25