Find the maturity value and the amount of simple interest earned. Round to the nearest cent....

Question

Question

business accounting

Answer 1

Answer #1

Hi there,

Here is my answer to the question asked.

The correct option is D = $5671.13 ; $189.13

Given facts ,

Principal amount = $5482

Rate of interest = 4.6%

Period = 9 months

Simple Interest :

Interest = principal * Rate of interest * period

= $5482 * 4.6 % * 9/ 12

= $189.13

Maturity value = principal amount + Interest

= $5482 + $ 189.13

= $ 5671.13

Answer 2

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