Solve the Problem

question 31

Multiple Choice

Solve the problem. Round dollar amounts to the nearest cent. Use ordinary interest unless otherwise indicated.
-Bob's BBQ signed a note with a face value of $18,500.00 on September 11. The note is for 90 days and carries an interest rate of 9%. Find the due date and the maturity value of the note.

• A)December 10, $18,916.25
• B)December 12, $18,500.00
• C)December 11, $19,055.00
• D)December 11, $20,165.00

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Definitions:

Brainstorming

A creative group activity aimed at generating a large number of ideas for problem-solving or innovation.

Spontaneous

Occurring without premeditation or external stimulus, often marked by a natural, unplanned flow.

Ecological Systems Theory

A theory proposed by Urie Bronfenbrenner, suggesting that human development is influenced by different kinds of environmental systems ranging from the immediate family and school settings to broader community and society levels.

Microsystem

Microsystem refers to the closest layer of the social environments in an individual's life, such as family and school, and the interactions within these settings.