Find the Maturity Value of a loan of 18,000 made for 2 years at 8% simple interest.
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A: We find the simple interest rate when maturity value of a 3-month loan of $4000 is $4085.
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A: Consider the given information. Here, PV=$6,742, n = 7 and r = 3.4%=0.034.
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A: Principal = 2410 Interest rate = 12% Time = 5years = 60 months
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A: P=principle=1600r=interest rate=8.7%=0.087t=time=45 day=45365 yearI=interest
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A: Given : Loan amount P = $1000 rate = 8% annually n = 9 annual payments
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Find the Maturity Value of a loan of 18,000 made for 2 years at 8% simple interest.
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