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25 June, 11:42

Calculate the maturity value of a loan if borrowing 5000 at 7% simple interest for 48 months

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  1. 25 June, 11:52
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    The total is 6400, but if subtracted, its 1400
  2. 25 June, 11:57
    0
    A=p (1+rt)

    A maturity value

    P principle 5000

    r interest rate 0.07

    T Time 48/12

    A=5,000 * (1+0.07 * (48:12))

    A=6,400
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