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    st3a7th's Avatar
    st3a7th Posts: 3, Reputation: 1
    New Member
    		  
    #1

    Sep 8, 2013, 12:11 AM
    please help me with this math problem...
    what is the final amount/ maturity value of $18,800 due in 36 months at 8% simple interest?
    Celine91's Avatar
    Celine91 Posts: 51, Reputation: 9
    Junior Member
    		  
    #2

    Oct 23, 2013, 03:38 AM
    Final amount = original amount + interest
    -F: final value
    -P: present value
    -r: interest rate (per year)
    -t: time in years
    F = P * (1 + r * t )
    F = 18800 (1+0.08(3)) = $ 23,312.
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