77 934
Assignments Done
Successfully Done
In August 2019

Answer to Question #20999 in Other Math for kailyn

Question #20999
Isaac's bank granted him a single-payment loan of $2500 for 90 days at 10 percent ordinary interest. What is the maturity value of the loan?
Expert's answer
As this is ordinary interest, and if the rate is 10% per 90 days, then maturity value of the loan is:
2500*(1+0.1)=2750 $

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!


No comments. Be first!

Leave a comment

Ask Your question

Privacy policy Terms and Conditions