MHB Amount of interest and maturity value

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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.
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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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