The maturity value of a 6-month note for $1500 at 6.5% interest would be?

1 ⤊

The maturity value of a 6-month note for $1500 at 6.5% interest would be?

a. $292.50
b. $ 48.75
c. $1548.75
d. none of these

2007-05-14 12:46:23 · 2 answers · asked by Anonymous in Business & Finance ➔ Investing

2 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!

2007-05-18 09:21:47 · answer #1 · answered by Yada Yada Yada 7 · 1⤊ 0⤋

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.

2007-05-14 13:10:52 · answer #2 · answered by Anonymous · 0⤊ 0⤋