Find the Adjusted Balance Due at Maturity for a 180

question 10

Multiple Choice

Find the adjusted balance due at maturity for a 180 day note of $38,400 at 11.8% ordinary interest if a partial payment of $20,000 is made on the 100th day of the loan.

• A) $19,658.67
• B) $1258.67
• C) $20,174.16
• D) $515.49

---

Definitions:

Dividends

Payments made by a corporation to its shareholders from the company's profits or reserves.

Corporate Penalty Taxation

The imposition of taxes on corporations for violating laws or regulations, distinct from regular taxation on profits.

Closely Held Corporation

A business corporation that is owned by a small number of shareholders; its shares are not publicly traded.

Limited Liability

is a legal structure where the owners' personal liability is restricted to the amount they invested in the business, protecting personal assets from business debts and obligations.