Answer:
maturity value = $4100
Explanation:
given data
time = 90 days = [tex]\frac{90}{360}[/tex]
consider 360 days in a year
principal = $4000
interest rate = 10%
to find out
maturity value
solution
first we get here interest amount that is
interest = principal × rate × time .........1
interest = $4000 × 10% × [tex]\frac{90}{360}[/tex]
interest = $100
so maturity value will be
maturity value = principal + interest .............2
maturity value = $4000 + $100
maturity value = $4100
