The maturity value of a 6-month note for $1500 at 6.5% interest would be?
b. $ 48.75
c. $1548.75
d. none of these
Answers:
Here's the formula that I gave you in the other question.
= principal * (1 + int rate/period)^(number of periods)
Just plug in the numbers!
In this case it appears that the number of periods in a year is two and that will give you one of the answers listed above.
Hope that helps!
Pick C.
You take the interest rate and divide it in half. Multiply 1500*1.0325=1548.75 or C.
I recommend you do your own homework though.
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