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March 27, 2015

March 27, 2015

Posted by **Anonymous** on Wednesday, September 18, 2013 at 3:59pm.

Using the scenario from the previous question, determine the maturity date of the loan.

- Business Math -
**Henry**, Saturday, September 21, 2013 at 7:52pmI = 2600-2000 = $600

I = Po*(0.06/360)*t = 600

2000*(0.06/360)*t = 600

0.333t = 600

t = 1800 Days = 5 yrs(Assuming 360 days/yr)

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