Marina Guzmon's bank granted her a single-payment loan of $3,250 to pay a repair bill. She agreed to repay the loan in 31 days at an ordinary interest rate of 11.75%. What is the maturity value of the loan?
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Home » Mathematics » Marina Guzmon's bank granted her a single-payment loan of $3,250 to pay a repair bill. She agreed to repay the loan in 31 days at an ordinary interest rate of 11.75%. What is the maturity value of the loan?