Mathematics: Marina guzmon’s bank granted her a single-payment loan of $3,250 to pay a repair bill. she agreed to repay the loan in 31 days at an ordinary interest rate of 11.75%. what is the maturity value of the loan?

Marina guzmon’s bank granted her a single-payment

Ответ:

jjgccc

12.03.2022

Mathematics

The Maturity Value of loan is $3280.84

Step-by-step explanation:

We are given that :

Principal = $3250 ,

time = 31 days ,Time in years = $\frac{31}{365}\approx0.085 years$

Rate of interest = 11.75%

$\text{The formula for calculating maturity level is given by}=Principal\cdot {(1+\frac{rate}{100})}^{time}\\\\\implies \text{Maturity Level}=3250\cdot {(1+\frac{11.75}{100})}^{0.085}\\\\\implies \text{Maturuty Level}=\$3280.84$

Hence, the maturity level for the loan is $3280.84

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Ответ:

imhacking2048

11.11.2021

Mathematics

The Answer is Please Make sure You Put it In and Trust Have a wonderful day/Night:)

Step-by-step explanation:

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Marina guzmon’s bank granted her a single-payment loan of $3,250 to pay a repair bill. she agreed to repay the loan in 31 days at an ordinary interest rate of 11.75%. what is the maturity value of the loan?

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