Scott Peter’s bank granted him a single-payment loan of $3,250 to pay a repair bill. He agreed to repay the loan in 31 days at an exact interest rate of 11.75%. What is the maturity value of the loan?

Scott Peter’s bank granted him a single-payment loan of $3,250 to pay a repair bill. He agreed to repay the loan in 31 days at an exact interest rate of 11.75%. What is the maturity value of the loan? a $3,300.90 b $3,211.09 c $3,282.43 d $3,554.66

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Scott Peter’s bank granted him a single-payment loan of $3,250 to pay a repair bill. He agreed to repay the loan in 31 days at an exact interest rate of 11.75%. What is the matu…

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