The maturity value of a 90-day note for $4,000 with an interest rate of 10 percent is?
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Ответ:
maturity value = $4100
Explanation:
given data
time = 90 days =![\frac{90}{360}](/tpl/images/0440/6956/16d49.png)
consider 360 days in a year
principal = $4000
interest rate = 10%
to find out
maturity value
solution
first we get here interest amount that is
interest = principal × rate × time .........1
interest = $4000 × 10% ×![\frac{90}{360}](/tpl/images/0440/6956/16d49.png)
interest = $100
so maturity value will be
maturity value = principal + interest .............2
maturity value = $4000 + $100
maturity value = $4100
Ответ:
I have no clue, sorry. need the points