= Homework: Homework 3Find the principal and the interest amount.Present Value(Principal)Future Value(Maturity Value)InterestInterestTimeAmountRate??$6134.484.4%222 daysThe principal is S(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Future value (S) = $6134.48 Interest rate (r) = 4.4% Period (t) = 222 days = 222/365 =…

Answered: Find the principal and the interest…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Find the principal and the interest amount. Future Value (Maturity Value) Present Value Interest Amount Interest Time (Principal) Rate ? ? $6134.48 4.4% 222 days The principal is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)