claraesson8074 claraesson8074
  • 21-05-2020
  • Mathematics
contestada

What is the maturity value of a single-

payment loan of $650 given for 80 days at

15% exact interest?

A $685.39

B $671.37

C $652.37

D $670.36

Respuesta :

Newton9022 Newton9022
  • 22-05-2020

Answer:

(B)$671.37

Step-by-step explanation:

Interest Rate, r=15%=0.15

Time, t = [tex]\dfrac{80}{365}[/tex]

Maturity Value at exact interest, S=P(1+rt)

[tex]=\$650 \left (1+0.15*\dfrac{80}{365}\right)\\\\=\$671.37[/tex]

The correct option is B.

Answer Link

Otras preguntas

What is equivalent to the square root of 200
Evaluate the expression 2/5+3/4 / 1/2 write your answer as a mixed number and an improper fraction? ** Please note / represents division: thanks!!
a0 is credited with inventing the first useful telescope.
If a motorist vehicle becomes disabled he/she must
what is the volume of the triangular prism? Round to the nearest tenth if necessary
Help Me...................
What fraction and decimal, in hundredths, is equivalent to 7/10?
complete the point slope equation of the line through (-8,-8) &' (-7,9) y-9=
which value of k will make x^2-1/4x+k a perfect square trinomial
Read the excerpt from “The Scarlet Ibis.” Finally I went back and found him huddled beneath a red nightshade bush beside the road. He was sitting on the ground