Compute the Maturity Value of a 7-Month, 6 Percent Note $$9,000 (Round Answer to 2 Decimal Places)

question 59

Short Answer

Compute the maturity value of a 7-month, 6 percent note with a face value of $$9,000. (round answer to 2 decimal places)

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Definitions:

Monopsonist

A market condition in which a single buyer substantially controls the market as the major purchaser of goods and services.

Profit-Maximizing Quantities

The level of output at which a firm maximizes its profit, determined by the point where marginal cost equals marginal revenue.

Occupational Licensing

The laws of state or local governments that require that a worker satisfy certain specified requirements and obtain a license from a licensing board before engaging in a particular occupation.

Exclusive Unionism

The policy, pursued by many craft unions, in which a union first gets employers to agree to hire only union workers and then excludes many workers from joining the union so as to restrict the supply of labor and drive up wages. Compare with inclusive unionism. The policies typically employed by a craft union.