l T-Mobile LTE 11:38 AM ezto.mheducation.com * 51% Module 3 Homework: On-line Se

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l T-Mobile LTE 11:38 AM ezto.mheducation.com * 51% Module 3 Homework: On-line Sections Question 12 (of 25) 1.00 points Leslie Hart borrowed $14,800 to pay for her child's education at Riverside Community College. Leslie must repay the loan at the end of 8 months in one payment with 4.5% interest. (Do not round intermediate calculations. Round your answers to the nearest cent.) How much interest must Leslie pay? of interest b. What is the maturity value? Hints References eBook& Resources Check my work

Explanation / Answer

a) Principal Rate Time Interest Calculation of interest 14800 * 4.5% * 8/12   = $444 b) Principal Interest Maturity Amount $ Maturity Value = 14800 + 444 = 15244

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