Screenshot 2019-01-19 at 9.48.52 PM.png - :I 1 of 3 ID FMTH.BI.51.02C.L Calculate the maturity value(5 of the following Note assuming that the yield is

# Screenshot 2019-01-19 at 9.48.52 PM.png - :I 1 of 3 ID...

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Unformatted text preview: :I 1 of 3 ID: FMTH.BI.51.02C.L Calculate the maturity value (5) of the following Note assuming that the yield is a simple interest rate: EASTPAC MATURITY VALUE: 3; PURCHASE PRICE: \$51,000 TERI-I T0 MATURITY: 170 days YIELD TO MATURITY: 8.79% per year Give your answer in dollars and cents to the nearest cent. 5 = 5 5308193 :| Feedback [1 out of 1] You are correct. Calculation The maturity value can be calculated using the following formula: show variables 5 = P{1 + r.l:) = 51,000 x (1 + 0.0379 x 0.46575342...) = 53,03?.92602?4... = \$53,087.93 Rounded as last step ...
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