If the Interest Rate on a Note Is 12

question 155

Multiple Choice

If the interest rate on a note is 12.5% and the principal was $57,000,what is the maturity value of the note,if the term of the note is 5 months? (Round your final answer to the nearest dollar. )

• A)$57,000
• B)$59,969
• C)$64,125
• D)$61,156

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Definitions:

Conversion

The process of changing the chemical structure of a substance to another form, often implemented in synthesis and reaction mechanisms.

Acid

A substance that donates hydrogen ions or accepts an electron pair in reactions.

Alcohol

Organic compounds characterized by the presence of one or more hydroxyl (-OH) groups attached to a carbon atom.

Alkyne

A hydrocarbon that contains at least one carbon-carbon triple bond, characterized by the formula CnH2n-2.