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On November 16th (non-leap year) Liquid Wealth received $2952.08 as the sole and final payment on a $2890 loan at 4.9%. What is the

On November 16th (non-leap year) Liquid Wealth received $2952.08 as the sole and final payment on a $2890 loan at 4.9%. What is the principal of the loan? Answer: What is the maturity value on the loan? Answer:

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SOLUTION To find the principal of the loan we can use the formula Principal Loan amount x Interest rate 1 Interest rateNumber of payments In this case ... blur-text-image

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