
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Question
Devon takes out a loan of $1,500 at 5.5% simple interest for 53 months. What is the maturity value of the loan?
options:
a. 1459.13
b. 1582.50
c. 1864.38
d. 2136.00
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