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

The grade received on a certain teacher's 100-point test varies in direct proportion to the amount of time a student spends preparing for the test. If a student
Please help me with the question below
What must every person do in a society that functions under the rule of law? write legislation vote in presidential elections obey the law participate in govern
ASAP!!!!!!! PLEASE There are different kinds of cells in your body that were each created to do a specific job. True False
Which is the recommended order of steps to create a personalized plan for change?
Express 125 4 as a power with base 5​
What should you ask to find the main idea of a story? (5 point)
how does engaging with topical issues develop our view of the world?
Six times a number is at least four less than eight times the number. If x represents the number, which will help find the number?
Emma jogs 2 miles along the beach in of an hour. Il She Waves1. Use the known information to write a rate.Emma's rate: 2 mileshours2. Write an equivalent rate w