On October 1, 2018, Parker, Inc

question 153

Multiple Choice

On October 1, 2018, Parker, Inc. made a loan to one of its customers. The customer signed a 9-month note for $110,000 at 14%. Calculate the maturity value of the note. (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)

• A) $121,550
• B) $125,400
• C) $94,600
• D) $98,450

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Definitions:

Voluntarily

Done, given, or acting of one's own free will without coercion or expectation of reward.

Nonwrongful Dissociation

Occurs when a member exits a partnership or limited liability company without violating the agreement terms or causing harm.

Value

The importance, worth, or usefulness of something, often determined by its desirability, utility, or monetary worth.

Charging Order

A legal order granted by a court to a creditor, allowing the seizure of an asset or financial interest of the debtor within a partnership or limited liability company.