# Answer to Question #2681 in Statistics and Probability for Stephanie

Question #2681

What is the present value of a maturity value of $2,484 bearing interest at 14% for 90days? Use formula P=M/1 + rt

Expert's answer

M = P(1+rt) =

& = 2484 *(1+ 0.14 * 90/360) =

& = 2570.94

& = 2484 *(1+ 0.14 * 90/360) =

& = 2570.94

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