Find the maturity value of a loan of $800 after three years. The loan carries a simple interest rate of 9 1/4% per year. 1.) The maturity of the loan is $___

My account
Edit my Profile
Private messages
My favorites

Ask a Question
Questions
Tags
Categories
Ask a Question

Keatinge asked Dec 28, 2023

326,950 views

18 votes

Find the maturity value of a loan of $800 after three years. The loan carries a simple interest rate of 9 1/4% per year.

1.) The maturity of the loan is $___

Mathematics
college

Keatinge asked Dec 28, 2023

by Keatinge

3.0k points

0 Comments

Your comment on this question:

Email me at this address if a comment is added after mine:Email me if a comment is added after mine

Privacy: Your email address will only be used for sending these notifications.

Your answer

Email me at this address if my answer is selected or commented on:Email me if my answer is selected or commented on

Privacy: Your email address will only be used for sending these notifications.

1 Answer

22 votes

Answer: $9

Step-by-step explanation: The maturity value of a loan is the total amount you must repay, including the principal and any interest you incur. The term of the loan is the time for which it has been granted.

Victor Domingos answered Jan 2