Jack borrowed $ 4,000.00 and paid $ 585.00
1 answer:
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We have a question on motion with the elements of distance, time taken and speed.
This question in particular is asking us for distance per unit time (in this case, hours).
We are required to find out how much distnace is covered in on hour and our approach will be as follows:
This right here just tells us that 4 hours, Madeline covered 180 miles and since her rate was constant (equal distances in equal times), then she also covered 45 miles in an hour.
Now we plot our number line.
Answer: $ 14736 (approx)
Step-by-step explanation:
Since, Maturity value is the amount payable to an investor at the end of a holding period of debt instrument.
And, It is defined as,
Where, P is the principal amount,
r is the interest rate
And, n is the time period.
Here, P= $4,400 r= 12 % and n = 172/365
Thus, Maturity value for this loan,
⇒V= 4400 × 3.34908932078 = 14735.9930114 ≈ 14736