4 Numeric 1 point Find the maturity value of a \( \$ 4,800 \) loan made on December 8,2025, with simple interest rate \( 4.95 \% \) and which matures on August 31,2027 Type your answer...

To find the maturity value of a \$4,800 loan with simple interest, follow these steps: 1. **Determine the Time Period (t):** - **Start Date:** December 8, 2025 - **Maturity Date:** August 31, 2027 From December 8, 2025, to December 8, 2026, is **1 year**. From December 8, 2026, to August 31, 2027, is: - December 8 to December 31: 23 days - January to August: 8 months (31 + 28 + 31 + 30 + 31 + 30 + 31 + 31 days) - Total days from December 8 to August 31: 266 days Convert days to years: \[ t = 1 \text{ year} + \frac{266 \text{ days}}{365 \text{ days/year}} \approx 1 + 0.729 \approx 1.729 \text{ years} \] 2. **Calculate Simple Interest (I):** \[ I = P \times r \times t \] \[ I = 4800 \times 0.0495 \times 1.729 \approx 4800 \times 0.0855855 \approx 410.81 \] 3. **Determine the Maturity Value (MV):** \[ MV = P + I = 4800 + 410.81 \approx 5210.81 \] **Final Answer:** The maturity value of the loan is approximately **\$5,211**.