Find the Maturity Value of the Simple Interest Note

question 51

Multiple Choice

Find the maturity value of the simple interest note.
-Face Value: $28,568
Length of Loan: 206 days
Rate: 10%

• A)$30,188.16
• B)$30,172.50
• C)$30,225.75
• D)$30,202.72

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Definitions:

Pancho Villa

A Mexican revolutionary general and one of the most prominent figures of the Mexican Revolution (1910-1920).

Fourteen Points

The Fourteen Points were a set of diplomatic principles proposed by President Woodrow Wilson in 1918 as a basis for peace negotiations to end World War I.

Woodrow Wilson

The 28th President of the United States, serving from 1913 to 1921, known for his leadership during World War I and for advocating the League of Nations.