Find the maturity value on a loan of $2,500 at 12.5% interest, for 48 months. Use the formula MV = P O $1,250.00 $1,406.25 $3,750.00 $4,000.00

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A: As per the simple interest loan, The formula to be used is: A=P(1+rt)

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Mortgages

A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.

Mortgage

The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.