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Sagot :
The exact time is 93 days
The interest is $20.38
The maturity value is $1020.38
What is the interest and the maturity value?
The interest is a function of the time, amount borrowed and the interest rate.
Interest = amount borrowed x time x interest rate
Time = June 9 - March 8 = 93 days
1000 x 0.08 x (93/365) = $20.38
Maturity value = 1000 + 20.38 = $1020.38
To learn more about interest, please check: https://brainly.com/question/26164549
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