Question
the maturity value of a $20,000, 7%, 75-day interest-bearing note dated september 10 is?
Answers
V = Vo + Vo*r*t.
V = 20,000 + 20000*(0.07/360)*75 =
$20,291.67
V = 20,000 + 20000*(0.07/360)*75 =
$20,291.67
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