document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1134102>Question 1134102</A>: <I><SPAN STYLE=\"word-break: break-all;\"> You borrow $9000 to help pay your college expenses. You agree to repay the loan at the end of 7 years at 8% interest, compounded quarterly. (Round your answers to two decimal places.)<BR>\n" );
document.write( "(a) What is the maturity value of the loan?<BR>\n" );
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document.write( "(b) How much interest are you paying on the loan?<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #751402 by </B><A HREF=/tutors/aboutme.mpl?userid=addingup><B>addingup(3677)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=addingup><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=addingup><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=751402\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 9000(1+(0.08/4))^4*7 = maturity value<BR>\n" );
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document.write( "a) 9000(1.74) = 15660 maturity value of the loan<BR>\n" );
document.write( "b) 15660-9000 = 6660 interest on loan\r<BR>\n" );
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