Find the Maturity Date and Proceeds

question 78

Multiple Choice

Find the maturity date and proceeds. Round to the nearest cent.
-Face value: $4,500
Discount rate: 9%
Date made: May 30
Time: 90 days
Maturity date: Proceeds:

• A)Maturity date: August 28 Proceeds: $4,601.25
• B)Maturity date: August 28 Proceeds: $4,398.75
• C)Maturity date: August 30 Proceeds: $4,601.25
• D)Maturity date: August 30 Proceeds: $4,398.75

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