Question 333761
1.	To buy a laptop, Susan receives a $2000 loan at a 6.5% annual interest rate on January 10. The loan is due May 15.  The year is not a leap year. Round the answers to the nearest cent (nearest hundredths)

	a)  Find the ordinary interest that Susan will pay for the loan.  (5 Points)
Answer:  
•	2000x6.5%x125/360= 45.14

b)  Find the maturity value, MV for the loan.  (5 Points)
		Answer:  
•	2000+ (2000 x 6.5% x 125/360) = 2,045.14