Timber01 Timber01

14-04-2017
Mathematics

contestada

Terry Bergolt's bank granted him a single-payment loan of $4,400 at an interest rate of 6% exact interest. The term of the loan is 172 days.
A. What is the exact interest?
B. What is the maturity value of the loan?

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Аноним Аноним

14-04-2017

the correct answer is (b)

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Aliwohaish12 Aliwohaish12

15-04-2017

I=4,400×0.06×(172÷365)=124.41
Maturity value=4,524.41

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