A sum of $12,000 is borrowed for 160 days at an annual simple interest rate of 9%. Calculate the maturity value (in dollars). (Use 360 days in 1 year.)

A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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A sum of $12,000 is borrowed for 160 days at an annual simple interest rate of 9%. Calculate the maturity value (in dollars). (Use 360 days in 1 year.)
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