A store owner borrowed $\$ 39,000$ at $10 \%$ from a bank to buy more inventory. Given that the loan is for 21 months, find the interest and the maturity value.
The interest is $\$ \square$.
The maturity value is $\$ \square$.
Answer
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Answer
\(\boxed{M = $45,825}\)
Steps
Step 1 ：\(I = P*r*t\)
Step 2 ：\(I = $39,000 * 0.10 * 1.75\)
Step 3 ：\(I = $6,825\)
Step 4 ：\(M = P + I\)
Step 5 ：\(M = $39,000 + $6,825\)
Step 6 ：\(\boxed{M = $45,825}\)
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