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Bess [88]
2 years ago
10

Find the present value of a loan with a maturity value of $15,000 for 9 months at 6%.

Mathematics
1 answer:
masya89 [10]2 years ago
6 0

Present value of the loan amount is $27 with a maturity value of $15000 for 9 months at 6%

How to find the present value of loan amount ?

We know that

Maturity value of loan amount = 15000

Time period is =9 months

Rate (r)=6 %

Present value of loan amount=?

So we can use the formula of maturity level

MV=PV*(1+r*t)

Substitute the values

15000=PV *(1+6*9)\\15000=PV(55)\\\frac{15000}{55} =PV\\27.27=PV

So present value of the loan amount is $27 in round figure.

Learn more about the maturity level and loan here:

brainly.com/question/28048713

#SPJ4

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