Calculate the maturity value of a simple interest, 9-month loan of $8,000 if the annual interest rate is 6.1%.

Sure, here are the steps to calculate the maturity value of a simple interest loan:

Step 1: Convert the annual interest rate from a percentage to a decimal. 6.1% = 0.061

Step 2: Convert the time period of the loan from months to years. 9 months = 9/12 = 0.75 years

Step 3: Calculate the interest on the loan using the formula for simple interest: Interest = Principal amount * Interest rate * Time Interest = $8,000 * 0.061 * 0.75 =$366

Step 4: Calculate the maturity value of the loan, which is the sum of the principal amount and the interest. Maturity value = Principal amount + Interest Maturity value = $8,000 +$366 = $8,366

So, the maturity value of the loan is $8,366.