jacks0517 jacks0517
  • 22-05-2018
  • Mathematics
contestada

Calculate the maturity value for an interest-bearing note of $28,500 for 118 days at 8%

Respuesta :

sskinfill
sskinfill sskinfill
  • 12-01-2022

Answer:

$ 29,247.33

Step-by-step explanation:

Calculate the Interest First:

Simple Interest (SI) = Principal (P) x Rate (R) x Time (T)

P = $28,500

R = 8% or .08

T = 118 days

SI = 28,500 x .08 x 118/360

I = $747.33

Calculate Maturity Value:

Maturity Value (MV) = Principal (P) + Interest (I)

MV= 28,500 + 747.33 = $29,247.33

Answer Link

Otras preguntas

find the area of the shaded region a.112 square units b.76 square units c.96 square units d.192 square units
Write the expression with a rationalized denominator. Show Your WORK ^3 sqrt(7) / ^3 sqrt(49)
please help!! The length of MO is____ units.
Please select the word from the list that best fits the definition Provides chapter titles and subheadings A) Table of Contents B) Glossary C) Index D) Title Pa
Mars moves in an elliptical orbit around the sun, and the mass of mars is much less than the mass of the sun. at the instant shown above, mars is getting farthe
Which is a typical variation on call-and-response in blues music?
Some please help me
Sara, a life-long ballet student, says she feels like she does not want to participate in ballet anymore. she also states she is tired and cannot seem to get en
What is significant about the structure of “Hills Like White Elephants”? Select all that apply. The story ends with a dramatic final scene. The story has lots o
Which conditions contributes to Brazil’s poverty