math

   Manuel Fraser's bank granted him a single-payment loan of $9,650.00.     

   He agreed to repay the loan in 146 days at an ordinary interest rate of 7.75 percent.     

   What is the maturity value of the loan?     

   The proportion of a year's interest will be 146 / 365     

   Maturity value will  =  (9,650.00) + (0.0775)(9,650.00)(146/365)     

                                  =   9650.00 + 299.15     

                                  =   9949.15     

   _.