Determine the maturity value of a 45-day note for $1,250 dated May 23 and bearing interest 8%.

The  maturity value of a 45-day note for $1,250 dated May 23 and bearing interest 8% is $1,262.5

Using this formula

Maturity value=Principal amount+ Interest

Let plug in the formula

Maturity value=$1,250+($1,250*8%*45 days/360 days)

Maturity value=$1,250+$12.5

Maturity value=$1,262.5

Inconclusion the maturity value is $1,262.5

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step-by-step explanation:

since the sequence is geometric there is a common ratio r between consecutive terms, that is

r = 4 ÷ - 2 = - 2

r = - 8 ÷ 4 = - 2

r = 16 ÷ 8 = - 2

the next term - 13 must be incorrect as it should be - 32 for the sequence to be geometric.

the first 4 terms are therefore geometric with common ratio r = - 2

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step-by-step explanation: