Using a 365-Day Year, the Maturity Value of a 180-Day

question 81

Multiple Choice

Using a 365-day year, the maturity value of a 180-day note for $2,700 at 9% annual interest is (rounded to the nearest cent) :

• A) $2,943.00.
• B) $2,821.50.
• C) $2,819.84.
• D) $119.84.
• E) $2,891.84