Colo Bank Accepts a Promissory Note for $3,000 from a Customer

question 92

Multiple Choice

Colo Bank accepts a promissory note for $3,000 from a customer on November 1,to be repaid in seven months plus 8% interest.The maturity value of the note is:

• A)$3,240.
• B)$3,140.
• C)$3,075.
• D)$3,000.

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