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A couple paid back $10,000 for an $8,500 loan. What was the maturity value of the loan?

Question

A couple paid back $10,000 for an $8,500 loan. What was the maturity value of the loan?
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Solution 1

To determine the maturity value of the loan, we need to understand that the maturity value is the total amount paid back at the end of the loan period. In this case, the couple paid back 10,000foran10,000 for an 8,500 loan.

Step-by-step solution:

  1. Identify the initial loan amount: $8,500.
  2. Identify the Knowee AI is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI  is a powerful AI-powered study tool designed to help you to solve study problem.
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