Mathematics, 27.07.2019 22:30 Eylul30

Colleen ellis bank granted her a single-payment loan of 5000 for 90 days at 9 percent ordinary interest. what is the maturity value of the loan

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Remember that the maturity value of a loan is the initial value of the loan plus the interest you have to pay for the loan. To calculate the maturity value of Ellis loan,we are going to use the formula: A=P(1+rt)

where

the maturity value of the loan

is the loan

is the interest rate in decimal form

is the time in years

Since

is expressed in years, we need to convert 90 days to years. To do that, we are going to divide 90 days by the number of days in a year:
$t= \frac{90}{365}$
$t= \frac{18}{73}$
Next, we are going to express the interest rate in decimal form. To do that we are going to divide the rate by 100%:
$r= \frac{9}{100}$
r=0.09

Now we know that P=5000

, and $t= \frac{18}{73}$ . Lest replace those values in our formula to find the maturity value of Ellis loan:
A=P(1+rt)

$A=5000[1+(0.09)( \frac{18}{73} )]$
A=5110.96

We can conclude that the maturity value of Ellis loan is $5,110.96.

Answer from: Quest

c. 16 units

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mark brainliest and have a great day!

Answer from: Quest

the most boring ever written

step-by-step explanation:

i am writing something. yes, i plan to make it the most boring thing ever written. i go to the store. a car is parked. many cars are parked or moving. some are blue. some are tan. they have windows. in the store, there are items for sale. these include such things as soap, detergent, magazines, and lettuce. you can enhance your life with these products. soap can be used for bathing, be it in a bathtub or in a shower. apply the soap to your body and rinse. detergent is used to wash clothes. place your dirty clothes into a washing machine and add some detergent as directed on the box. select the appropriate settings on your washing machine and you should be ready to begin. magazines are stapled reading material made with glossy paper, and they cover a wide variety of topics, ranging from news and politics to business and stock market information. some magazines are concerned with more recreational topics, like sports card collecting or different kinds of hairstyles. lettuce is a vegetable.

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