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What is the maturity value of the loan

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Question: 1. Susan Duke borrowed $20,000 for four years to purchase a car. The simple interest loan has a rate of 8.2% per year. What is the maturity value of the loan?

2. Alexa May took out a $42,000 construction loan to remodel a house. The loan rate is 8.3% simple interest per year and will be repaid in six months. How much is paid back?

Reference no: EM131622964

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