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You take out a 40-day single-payment loan for $390 with an interest rate of 18%. Find the amount of the maturity value.

You take out a 40-day single-payment loan for $390 with an interest rate of 18%. Find the amount of the maturity value.
asked 38.2k views
5 votes
You take out a 40-day single-payment loan for $390 with an interest rate of 18%. Find the amount of the

maturity value.

asked
User Louoso
by
9.2k points

1 Answer

6 votes

Answer:

390 +(1×18/100)=460.2$

460.2-390= 70.2$ !!

answered
User Marsl
by
9.0k points
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