Using a 365-Day Year,the Maturity Value of a 55-Day,7% Note

question 78

Multiple Choice

Using a 365-day year,the maturity value of a 55-day,7% note for $23,000 rounded to the nearest cent is:

• A)$23,000.00.
• B)$23,242.60.
• C)$23,245.97.
• D)$24,610.00.

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