Find the present value of a loan with a maturity value of $15,000 for 9 months at 6%.
1 answer:
Present value of the loan amount is $ with a maturity value of $
for
months at
%
How to find the present value of loan amount ?
We know that
Maturity value of loan amount
Time period is months
Rate (r) %
Present value of loan amount=?
So we can use the formula of maturity level
Substitute the values
So present value of the loan amount is $ in round figure.
Learn more about the maturity level and loan here:
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Answer:
The exponential growth model for the population of the Tallahassee metropolitan area is .
Step-by-step explanation:
The exponential formula is
Where b is initial population, r is growth rate, (1+r) is growth factor and t is time (in years) after the initial year.
The population of the Tallahassee metropolitan area was 382,627 at the end of 2017. The growth rate is 2.78%.
Here the initial year is 2017 and rate is 0.0278
Graph of the equation is shown below. The x-axis represents the number of years after 2017 and y-axis represents the total population.
Difference between 2025 and 2017 is 8 years. Put t=8
Therefore the projected population in 2025 is 476479.
