Homework Answers
The maturity value is computed as shown below:
Interest is computed as follows:
= $ 82,000 x [ ( 9 x 4 + 1 ) / 4 ] / 100
= $ 7,585 per year
So the interest for 9 years will be:
= $ 7,585 x 9
= $ 68,265
So the maturity value will be:
= $ 68,265 + $ 82,000
= $ 150,265
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