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Sedaia [141]
2 years ago
9

Find the maturity value of a loan of $2500 at simple interest that is to be repaid in 8 months. The interest rate is 4. 3%. A) $

321. 46 B) $2571. 67 C) $2607. 50 D) $9666. 67.
Mathematics
1 answer:
Oksanka [162]2 years ago
8 0

The maturity value of a loan of $2500 at the simple interest rate of 4.3% that is needed to be repaid in 8 months is $2607.50.

<h3>What is simple interest?</h3>

Simple interest is a method of calculating interest on an amount for n period of time with a rate of interest of r. It is calculated with the help of the formula,

SI = \dfrac{P\times R\times T}{100}

where SI is the simple interest, P is the principal amount, R is the rate of interest, and T is the time period.

As it is given the principal amount of the loan is $2500, while the interest rate is 4.3%, therefore, after a period the interest on the loan will be,

SI = \dfrac{P\times R\times T}{100}\\\\SI = \dfrac{2500 \times 4.3 \times 1}{100}\\\\SI =107.5

Thus, the interest amount on the loan of $2500, is $107.5.

Now, in order to find the value of the loan we need to add the interest and the principal amount of the loan together. Therefore, the value of the loan can be written as,

The value of the loan = Principal Amount + Interest rate

                                    = $2500 + $107.5

                                    = $2607.50

Hence, the maturity value of a loan of $2500 at the simple interest rate of 4.3% that is needed to be repaid in 8 months is $2607.50.

Learn more about Simple Interest:

brainly.com/question/2793278

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Expanded Form. When we write the number 521, what that number really means is that we have the total of 500 + 20 + 1. We've expanded the number to show the value of each of its digits. When we expand a number to show the value of each digit, we're writing that number in expanded form.



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<h3>How is the conversion from exponent to radical realized?</h3>

The conversion of rational exponents to radical notation is modeled by:

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In this problem, the expression is:

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And the equation that shows that this is correct is:

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More can be learned about the conversion from exponent to radical at brainly.com/question/19627260

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