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Answered

Duerr company makes a $67,000, 90-day, 10% cash loan to Ryan Co. The maturity value of the loan is: (Use 360 days a year.)

Answer :

Answer:

the maturity value of the loan is $68,675

Explanation:

The maturity value of the loan is shown below:

= Loan amount + interest charged

= $67,000 + ($67,000 × 10% × 90 days ÷ 360 days)

= $67,000 + $1,675

= $68,675

hence, the maturity value of the loan is $68,675

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