What is the maturity value of a $7,500 loan for 16 months at 4.8% compounded monthly? Also. how much interested was charged? Future value: $10.479.74 Interest: $2,979.74 Future value: $7.994.67 Interest: $494.67 OFuture value: $7.979.99 Interest: $479.99 OFuture value: $9.456.88 Interest: $1.956.88 Future value: $11,790.01 Interest: $4.2bo1
What is the maturity value of a $7,500 loan for 16 months at 4.8% compounded monthly? Also. how much interested was charged? Future value: $10.479.74 Interest: $2,979.74 Future value: $7.994.67 Interest: $494.67 OFuture value: $7.979.99 Interest: $479.99 OFuture value: $9.456.88 Interest: $1.956.88 Future value: $11,790.01 Interest: $4.2bo1
Chapter4: Time Value Of Money
Section4.17: Amortized Loans
Problem 1ST
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![What is the maturity value of a $7,500 loan for 16 months at 4.8% compounded
monthly? Also. how much interested was charged?
Future value: $10.479.74 Interest: $2,979.74
O Future value: $7.994.67
Interest: $494.67
O Future value: $7.979.99
Interest: $479 99
OFuture value: $9.456.88
Interest: $1.956.88
Future value: $11,790.01
Interest: $4.b01](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F85043af4-9749-4645-aeaf-924503fbc36d%2F5bfebdd6-0ece-44ab-bed0-74ec17da360b%2F53634ua_processed.png&w=3840&q=75)
Transcribed Image Text:What is the maturity value of a $7,500 loan for 16 months at 4.8% compounded
monthly? Also. how much interested was charged?
Future value: $10.479.74 Interest: $2,979.74
O Future value: $7.994.67
Interest: $494.67
O Future value: $7.979.99
Interest: $479 99
OFuture value: $9.456.88
Interest: $1.956.88
Future value: $11,790.01
Interest: $4.b01
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