Julius Takes Out a Loan of $9,500, at 9

question 97

Multiple Choice

Julius takes out a loan of $9,500, at 9.5% simple interest, for 4 months. What is the maturity value of the loan? (Round to the nearest cent)

• A) $10,191.25
• B) $10,265.00
• C) $9,883.00
• D) $9,800.83

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Definitions:

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