Question

What is the maturity value of the following loan? Use MV = P(1 + RT) to find the maturity.

Principal


Rate (%)


Time


Maturity Value

$120,740


11¾ %


7 months


(Points : 3)

Answer 1

so, what's the trouble? Just plug in the numbers.

MV = 120740(1+.1175/12 * 7)