Elizabelth wants to redesign her shoe and accessory store. She qualified for a $2,000, 2 year simple intereset loan at 9% per year. What is the maturity value?

Question

anonymous · Answer

okay. The equation would be 2000x1.09x2

anonymous · Answer

If you solve the equation, then you would get the answer. The 2000 stands for the amount of money she qualifies for, the 1.09 represents the amount of interest, and finally the 2 represents the amount of years.

anonymous · Answer

Thank you that makes it more clear!

anonymous · Answer

medal? ;)

anonymous · Answer

Thank you @Mullaney