On July 7,University Bank Lent $530,000 to Jazz Music Shop

question 144

Multiple Choice

On July 7,University Bank lent $530,000 to Jazz Music Shop on a 60 day,7% note.What is the maturity value of the note? (Use a 360-day year and round answers to the nearest dollar.)

• A) $530,000
• B) $567,100
• C) $536,099
• D) $536,183

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Definitions:

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International Context

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