Calculate the maturity value of a simple interest, eight-month loan of $15,000 if the interest rate is 4.5%.
I = PRT
I = 15,000 * 0.045 * 0.6667
I = ?
Add the interest to the principal.
I = 15,000 * 0.045 * 0.6667
I = ?
Add the interest to the principal.