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Maksim231197 [3]
3 years ago
7

You borrowed 12000 for 6 years at interest rate of 1.25% what is the maturity value of the loan

Mathematics
1 answer:
aniked [119]3 years ago
7 0

Answer:

$12,928.60

Step-by-step explanation:

We can use A = P(1 + r)^t to solve this

Step 1: Plug known variables

P = 12000(1 + 0.0125)^6

Step 2: Solve

P = 12000(1.0125)^6

P = 12928.6

And we have our final answer!

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