Calculate the maturity value of an investment of $22,500 after 9 months at 13.45%.
A) $20,438.29
B) $4,736.25
C) $2,269.69
D) $27,236.25
E) $24,769.69

Name: Calculate the maturity value of an investment of $22,500 after 9 months at 13.45%. A) $20,438.29 B) $4,736.25 C) $2,269.69 D) $27,236.25 E) $24,769.69
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Question

Quizplus · Accepted Answer

Maturity value = Principal + (Principal * Rate * Time)= $22,500 + ($22,500 * 0.1345 * 9/12)= $22,500 + $2,269.69= $24,769.69

Calculate the Maturity Value of an Investment of $22,500 After