Find the maturity value of a loan of $49,583 after 18 months. The loan carrie

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qetenunz27

Business Finance

Description

Find the maturity value of a loan of $49,583 after 18 months. The loan carries a simple interest rate of 8.3% per year. 

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Explanation & Answer

SI=PTR/100=49583*18*8.3/(12*100)=6173.08

Maturity value of a loan=49583+6173.08=55756.08$


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