Question

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

Answer 1

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

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