Ask Question
2 January, 19:40

Terry Bergolt's bank granted him a single-payment loan of $4,400 at an interest rate of 6% exact interest. The term of the loan is 172 days.

A. What is the exact interest?

B. What is the maturity value of the loan?

+1
Answers (2)
  1. 2 January, 19:49
    0
    I=4,400*0.06 * (172:365) = 124.41

    Maturity value=4,524.41
  2. 2 January, 20:04
    0
    The correct answer is (b)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Terry Bergolt's bank granted him a single-payment loan of $4,400 at an interest rate of 6% exact interest. The term of the loan is 172 ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers