What is the maturity value of a $7,500 loan for 16 months at 4.8% compounded monthly? Also. how much interested was charged? Future value: $10.479.74 Interest: $2,979.74 Future value: $7.994.67 Interest: $494.67 OFuture value: $7.979.99 Interest: $479.99 OFuture value: $9.456.88 Interest: $1.956.88 Future value: $11,790.01 Interest: $4.2bo1
What is the maturity value of a $7,500 loan for 16 months at 4.8% compounded monthly? Also. how much interested was charged? Future value: $10.479.74 Interest: $2,979.74 Future value: $7.994.67 Interest: $494.67 OFuture value: $7.979.99 Interest: $479.99 OFuture value: $9.456.88 Interest: $1.956.88 Future value: $11,790.01 Interest: $4.2bo1
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA3: Time Value Of Money
Section: Chapter Questions
Problem 8CE
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