document.write( "Question 1175720: Sara obtains a $1,000 loan to purchase a laser printer. Her interest rate is 7% ordinary interest for 100 days. What's her total interest and maturity value? \n" ); document.write( "
Algebra.Com's Answer #850609 by CPhill(1959)\"\" \"About 
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Let's break down how to calculate the ordinary interest and maturity value for Sara's loan.\r
\n" ); document.write( "\n" ); document.write( "**1. Calculate the Ordinary Interest**\r
\n" ); document.write( "\n" ); document.write( "* **Principal (P):** $1,000
\n" ); document.write( "* **Interest Rate (R):** 7% or 0.07
\n" ); document.write( "* **Time (T):** 100 days
\n" ); document.write( "* **Ordinary Interest:** Ordinary interest uses a 360-day year.\r
\n" ); document.write( "\n" ); document.write( "* **Formula:** Interest (I) = P * R * (T / 360)\r
\n" ); document.write( "\n" ); document.write( "* **Calculation:**
\n" ); document.write( " * I = $1,000 * 0.07 * (100 / 360)
\n" ); document.write( " * I = $70 * (100 / 360)
\n" ); document.write( " * I = $70 * 0.277777...
\n" ); document.write( " * I ≈ $19.44\r
\n" ); document.write( "\n" ); document.write( "**2. Calculate the Maturity Value**\r
\n" ); document.write( "\n" ); document.write( "* **Maturity Value (MV):** Principal (P) + Interest (I)\r
\n" ); document.write( "\n" ); document.write( "* **Calculation:**
\n" ); document.write( " * MV = $1,000 + $19.44
\n" ); document.write( " * MV = $1,019.44\r
\n" ); document.write( "\n" ); document.write( "**Results**\r
\n" ); document.write( "\n" ); document.write( "* Total Interest: $19.44
\n" ); document.write( "* Maturity Value: $1,019.44
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