Homework Answers
The formula to calculate Maturity Value (MV)
MV=P*(1+r)n
MV= Maturity Value
P= Principle Amount
r= rate of interest
n=number of compounding intervals between the time of deposit and maturity
Substituting with data given in the question;
P= 270,000
r= 8%
n= 9 years
thus
MV= 270,000*(1+8%)9
MV= 270,000*1.999004627
MV= 53,9731.25.
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