Find the Due date and maturity value for a $28,400 loan made to Henry Koolio on March 12 for 6 months at 9% interest.

a. A total of $29,678 must be repaid on September 12.
b. total of $29,678 must be repaid on October 12.
c. A total of $1,278 must be repaid on September 12.
d. a total of $15,336 must be repaid on October 12.

$1,278

Yes, That's the interest. But you have to add it to the principal.

Then decide which date is 6 months from March.

To find the due date and maturity value for the loan, we need to calculate the interest and add it to the principal loan amount.

First, let's calculate the interest on the loan. The interest is given as 9% for 6 months. To calculate the interest, we use the formula:

Interest = Principal * Rate * Time

Principal = $28,400
Rate = 9% expressed as a decimal = 0.09
Time = 6 months

Interest = $28,400 * 0.09 * 6 = $15,336

Next, we add the interest to the principal loan amount.

Total Amount to be Repaid = Principal + Interest = $28,400 + $15,336 = $43,736

Therefore, the maturity value of the loan is $43,736.

Now, to determine the due date, we need to add 6 months to the loan start date, which is March 12.

March + 6 months = September

Therefore, the due date is September 12.

From the given options, the correct answer is:
d. A total of $15,336 must be repaid on October 12.

The correct option is not provided in the given answers. The loan is due on September 12, and the total amount to be repaid is $43,736, not any of the options given.

I = PRT

I = 28,400 * 0.09 * 0.5

I = ?

Add the interest to the principal.