Find the Maturity Value of the Loan (Use the Formula

Short Answer

Find the maturity value of the loan (use the formula MV = P(1+ RT) to find the maturity value): (Round to the nearest cent) $$\begin{array} { l l l l l } \text { Principal } & \text { Rate } & \text { Time } & \text { Interest } & \text { Maturity Value } \\\$ 1,850 & 10 \frac{1}{2} \%&1 \frac{1}{4} \mathrm{years} & &\end{array}$$