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Duerr company makes a $75,000, 60-day, 11% cash loan to Ryan Co. The maturity value of the loan is: (Use 360 days a year.)

Respuesta :

Answer:

The maturity value of the loan is $76,375.00

Explanation:

The maturity value of the loan comprises of the face value of the loan plus the interest accrued over the 60-day period as shown below:

face value of the loan=$75000

interest=$75000*11%*60/360

interest on loan=$1375

maturity value=$75000+$1375

maturity value=$76,375.00  

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