MHB Amount of interest and maturity value

  • Thread starter Thread starter ammanda
  • Start date Start date
  • Tags Tags
    Interest Value
AI Thread Summary
The discussion revolves around calculating the interest and maturity value of a loan using the formula MV = P + I. The principal amount is $91,000 with an interest rate of 9.25% over a period of 2.5 years. Participants are encouraged to share their attempts at solving the problem to receive more targeted assistance. The conversation emphasizes the importance of clarity in presenting data for effective problem-solving. Ultimately, the focus remains on deriving the correct maturity value based on the provided figures.
ammanda
Messages
4
Reaction score
0
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]
 
Mathematics news on Phys.org
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?
 

Thread 'What Exactly is Dirac’s Delta Function? - Insight'

Insights auto threads is broken atm, so I'm manually creating these for new Insight articles. In Dirac’s Principles of Quantum Mechanics published in 1930 he introduced a “convenient notation” he referred to as a “delta function” which he treated as a continuum analog to the discrete Kronecker delta. The Kronecker delta is simply the indexed components of the identity operator in matrix algebra Source: https://www.physicsforums.com/insights/what-exactly-is-diracs-delta-function/ by...
View full post »

Thread 'Non-orthogonal bases'

Suppose ,instead of the usual x,y coordinate system with an I basis vector along the x -axis and a corresponding j basis vector along the y-axis we instead have a different pair of basis vectors ,call them e and f along their respective axes. I have seen that this is an important subject in maths My question is what physical applications does such a model apply to? I am asking here because I have devoted quite a lot of time in the past to understanding convectors and the dual...
View full post »
Thread 'Imaginary Pythagoras'

Thread 'Imaginary Pythagoras'

I posted this in the Lame Math thread, but it's got me thinking. Is there any validity to this? Or is it really just a mathematical trick? Naively, I see that i2 + plus 12 does equal zero2. But does this have a meaning? I know one can treat the imaginary number line as just another axis like the reals, but does that mean this does represent a triangle in the complex plane with a hypotenuse of length zero? Ibix offered a rendering of the diagram using what I assume is matrix* notation...
View full post »

Similar threads

MHB with Simple Interest Problems
Replies
2
Views
7K
MHB Calculating Bond Value - 3.5 Yr Holding, 8% Coupon
Replies
1
Views
3K
MHB Calculate Compound Interest: Easy Step-by-Step Guide | Calculator Tips
Replies
2
Views
11K
I Finance - Find Monthly Payments (two methods)
Replies
2
Views
2K
MHB Effective Rate of Interest
Replies
2
Views
2K
MHB Algebraic expression simplification 2(2u+v)/u = 4(v^2-4u^2)/3u^2
Replies
4
Views
2K
Simple Interest Calculator for a 5% Rate - Help with Homework Statement
Replies
7
Views
2K
MHB A family buys a house and has to pay monthly
Replies
2
Views
2K
MHB Optimizing Loan Interest Rates: Solving for Loan Length
Replies
2
Views
2K
MHB How to use the RATE function in Excel ?
Replies
3
Views
2K

Hot Threads

Recent Insights

Back
Top