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- 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?
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1 vote
- 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?

User Qqqqqqq
by
8.1k points

1 Answer

3 votes

Answer: 1.25

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

User Sachin Gurnani
by
8.6k points
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