Carrie houghtaling's bank granted her a single payment loan of 4,000 for 80 days at 11 percent ordinary interest. What is the maturity value of the loan

4,100

Step-by-step explanation:

The maturity value can be calculated using the following formula:

MV = P (1+r) ^n

P: principal amount = 4,000

r: rate of interest = 11%/360 = 0.0305%

n: time until maturity

MV = 4,000 (1+0.000305) ^80

MV = 4,000*1.025

MV = 4,100

The maturity value of the loan is 4,100.