Present value of the loan amount is $[tex]27[/tex] with a maturity value of $[tex]15000[/tex] for [tex]9[/tex] months at [tex]6[/tex]%
How to find the present value of loan amount ?
We know that
Maturity value of loan amount [tex]= 15000[/tex]
Time period is [tex]=9[/tex] months
Rate (r)[tex]=6[/tex] %
Present value of loan amount=?
So we can use the formula of maturity level
[tex]MV=PV*(1+r*t)[/tex]
Substitute the values
[tex]15000=PV *(1+6*9)\\15000=PV(55)\\\frac{15000}{55} =PV\\27.27=PV[/tex]
So present value of the loan amount is $[tex]27[/tex] in round figure.
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