Tao bergolts bank granted him a single-payment loan of $4,400 at an interest rate of 12 percent. the term of the loan is 172 days. what is the maturity value of his loan at exact interest?

$ 14736 (approx)

Step-by-step explanation:

Since,  Maturity value is the amount payable to an investor at the end of a holding period of debt instrument.

And, It is defined as,

Where, P is the principal amount,

r is the interest rate

And, n is the time period.

Here, P=  $4,400 r=  12 % and n = 172/365

Thus, Maturity value for this loan,

⇒V= 4400 × 3.34908932078 = 14735.9930114 ≈ 14736

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