Mark2Bud
Mark2Bud Mark2Bud
  • 18-05-2017
  • Mathematics
contestada

calculate the maturity value of a loan if borrowing 5000 at 7% simple interest for 48 months

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supervi803
supervi803 supervi803
  • 18-05-2017
the total is 6400, but if subtracted, its 1400
Answer Link
Aliwohaish12
Aliwohaish12 Aliwohaish12
  • 18-05-2017
A=p (1+rt)
A maturity value
P principle 5000
r interest rate 0.07
T Time 48/12

A=5,000×(1+0.07×(48÷12))
A=6,400
Answer Link

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