Find the maturity value of the following loans. Use MV = p (1 + RT) to find the maturity values.
Principal Rate (%) Time Maturity Value
$18,620

To calculate: The maturity value of an amount
Given Information:
The principle amount is
Formula used:
The maturity value of the loan is given by the formula;
Here P is the principal amount, R is rate of interest and T is the timeperiod.
Calculation:
Consider the principal amount
So,
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