tcapele8966 tcapele8966
  • 26-04-2018
  • Mathematics
contestada

The maturity value of a 5-year, 6.25% ordinary interest commercial loan is $361,593.75. Find the principal.

Respuesta :

CastleRook
CastleRook CastleRook
  • 07-05-2018
The principle will be calculated as follows:
FV=P(1+r/100)^n
P=361,593.75
r=6.25%
n=5 years
plugging the values in the formula and solving for P we shall have:
361,593.75=P(1+6.25/100)^5
361,593.75=P*1.0625^5
P=267,039.94
thus the value of the principle was $267,037.94

Answer Link

Otras preguntas

A given rectangle has an area of 20 square feet. What is the length for various widths?
triangular region at the mouth of a river: it is rich in minerals which help to enrich the soil for farming
Write 1.2% in a fraction or mixed number in simplest form
At open skate night, admission is $3.75 with a membership card and $5.00 without a membership card. Skate rentals are $3.00. The Moores And Cotters were at Ope
A student notices that an inflated balloon gets larger when it is warmed by a lamp. Which best describes the mass of the balloon with this change?
You went to the post office with $20, you mailed a package for $3.67. At most, how many $.37 stamps could you have purchased??
how do you find the ratio of 11 days to 14 days
how to find the properties of 6x89?
How did radio shape modernism in the 1920s
how many times does 16 go into 20