Answer:
The face value would be $75,000
Step-by-step explanation:
Maturity value = $76,386.99
Time = 90 days
Rate of interest = 7.5%
Let face value be 'x'
By using the formula [tex]A=P(1+\frac{RT}{100})[/tex]
$76,386.99 = [tex]x(1+\frac{7.5\times \frac{90}{365}}{100})[/tex]
Time in years = [tex]\frac{90}{365}[/tex]
⇒ $76,386.99 = x( 1 + 0.01849315 )
⇒ x = [tex]\frac{76,386.99}{1.01849315}[/tex]
x = $75,000
The face value would be $75,000
