Superboychaos Superboychaos

15-09-2020
Mathematics

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A single-payment loan of $5,955. Interest rate of 8.75 percent. Days of ordinary
interest: 42. Round to the nearest hundredth. What is the interest owed? What is the maturity value?

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15-09-2020

Answer:

interest owned = PTR/100

= 5955*(42/365)*8.75/100 =59.96

maturity value = 5955+59.96=6054.96

Step-by-step explanation:

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