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23 May, 13:47

Anet borrowed $12,500. She signed a 200-day note on August 7 at 8% interest. Find the maturity value of the note. $555.56 $200,000 $13,055.56 $30,555.56

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  1. 23 May, 14:11
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    The formula is

    A=p (1+r*t)

    A maturity value?

    P amount borrowed 12500

    R interest rate 0.08

    T time 200/360

    A=12,500 * (1+0.08 * (200:360))

    A=13,055.56
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