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20 March, 17:15

Manuel Fraser's bank granted him a single-payment loan of $9,650. He agreed to repay the loan in 146 days at an ordinary interest rate of 7.75%. What is the maturity value of the loan?

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  1. 20 March, 17:31
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    A=9650 (1+0.0775*146/360)

    A=9953.30
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