A Promissory Note Has a Face Value of $6000 and It

question 58

Multiple Choice

A promissory note has a face value of $6000 and it has a date of issue of June 1 this year. The term is for 6 months. The rate of interest is 8.00%. What is the maturity value of the note?

• A) $6242.60
• B) $6246.60
• C) $6200.60
• D) $6248.60
• E) $6244.60