Mathematics: kayla needs $14,000 worth of new equipment for his shop. he can borrow this money at a discount rate of 10% for a year. find the amount of the loan kayla should ask for so that the proceeds are $14,000. maturity = $

169.15 is the correct answer...

kayla needs $14,000 worth of new equipment for his

IDONTHAVEABRAIN

15.03.2022

$15400

Step-by-step explanation:

Principle amount, P = $14000

Time, T = 1 year

Rate of interest, R = 10%

We know that maturity amount,

$A = P\left (1+\frac{R}{100} \right )^{n}$

where n is number of years

$A = P\left (1+\frac{R}{100} \right )^{n}$

$A = 14000\left (1+\frac{10}{100}\right )^{1}$

$A = 14000\left (1+\frac{1}{10}\right )$

$A = 14000\left (\frac{11}{10}\right )$

A = 15400

The maturity amount is $15400

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