The Maturity Value of a 90-Day Note for $4,000 That

question 16

Multiple Choice

The maturity value of a 90-day note for $4,000 that bears interest at 10 percent a year is

• A) $4,400.
• B) $4,100.
• C) $4,000.
• D) $3,900. 4,000 x 90/360 x .1 = 100; 4,000 + 100 = $4,100.

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Definitions:

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