Question

Date repaid Aug 17th Exact timeInterestMaturity valuePrincipal$ 1,200Interest rate6%Date borrowedMay 15th

Answer 1

Exact time: 94 days

Interest: ?

Maturity Value: ?

Step-by-step explanation:

.Between May 15th and Aug 17th there are 94 days.

. Interest : 1

. Maturity value : 1 200

Formula:

Maturity value: MV

`MV=P*(1+r)^n`