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Answered

how much is the maturity value of a loan for 150,000 at 6.50% simple interest for 3years​

Sagot :

AGBOIIIN

Answer:

179,250

Step-by-step explanation:

Given:

  • P = 150,000
  • R = 6.50% or 0.065
  • T = 3 years

Using the Maturity Value of simple interest formula

  • F = P + PRT
  • F = 150,000 + (150,000 Ă— 0.065 Ă— 3)
  • F = 150,000 + 29,250
  • F = 179,250

Therefore , the maturity value is 179,250

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