Respuesta :
So here we have the formula:
[tex]mv=p(1+rt)[/tex]Where mv is the maturity value, p is the principal amount, r is the rate and t is the time in months.
If we replace our values:
p = 10,985
r = 9 1/2%
t = 11
First of all, remember that 9 1/2 can be written as:
[tex]9\frac{1}{2}=\frac{19}{2}=9.5[/tex]To find the maturity value with the given data, we should replace in the equation as follows:
[tex]mv=10,985(1+\frac{9.5}{100}(11))[/tex]Remember that 9.5% = 9.5/100
So, the only thing we have to do now is to operate:
[tex]\begin{gathered} mv=10,985(1+1.045) \\ mv=10,985(2.045) \\ mv=22464.3 \end{gathered}[/tex]And that's the maturity value.
