Amount of interest and maturity value

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    Interest Value
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SUMMARY

The discussion focuses on calculating the amount of interest and the maturity value of a loan using the formula MV = P + I. The principal amount is $91,000.00, the interest rate is 9.25%, and the loan period is 2.5 years. Participants emphasize the importance of sharing attempted solutions to facilitate better assistance. The maturity value can be derived by first calculating the interest using the provided parameters.

PREREQUISITES
  • Understanding of basic financial formulas, specifically MV = P + I
  • Knowledge of interest calculation methods
  • Familiarity with loan terms such as principal, interest rate, and maturity
  • Ability to perform calculations involving percentages and time periods
NEXT STEPS
  • Calculate interest using the formula I = P * r * t
  • Explore financial calculators for automated loan calculations
  • Research different types of interest (simple vs. compound)
  • Learn about amortization schedules and their impact on loan repayment
USEFUL FOR

Individuals involved in personal finance, loan officers, financial analysts, and anyone looking to understand loan calculations and maturity values.

ammanda
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Find the amount of interest and the maturity value of the following loan. Use the formula MV = P + I to find the maturity value.

[table="width: 500, class: grid, align: left"]
[tr]
[td]Principal[/td]
[td]Interest Rate[/td]
[td]Period[/td]
[td]Maturity Value[/td]
[/tr]
[tr]
[td]\$91,000.00[/td]
[td]9.25%[/td]
[td]2.5 years[/td]
[td]?[/td]
[/tr]
[/table]
 
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Hello ammanda,

I have deleted the duplicate thread, and edited this one to present the given data in tabular format. I hope I interpreted it correctly.

Can you post what you have tried so our helpers know exactly where you are stuck and can offer better help?
 
MarkFL said:
Hello ammanda,

I have deleted the duplicate thread, and edited this one to present the given data in tabular format. I hope I interpreted it correctly.

Can you post what you have tried so our helpers know exactly where you are stuck and can offer better help?

thank you so much for that.
 
So what is your solution, Ammanda?
 

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