The Amount of Cash Paid at Maturity Date on a $9,000

question 28

Multiple Choice

The amount of cash paid at maturity date on a $9,000 face value, 60-day note bearing interest at 6% is

• A) $9,720
• B) $9,090
• C) $9,000
• D) $7,200 9000 x 60/360 x .06 = 90; 9000 + 90 = 9090.

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Definitions:

Tort Law

A segment of law dealing with civil wrongs that cause harm or loss, leading to legal liabilities.

Battery

The intentional and unlawful physical contact or harm against another person without their consent.

Self-Defense

A legal principle that allows individuals to use reasonable force to protect themselves from physical harm.

Punitive Damages

Financial remuneration provided to a victim that exceeds the required amount for covering losses, aimed at penalizing the offender.