Melon Industries Issues a $20,000, 10%, 135-Day Note to Apple

Multiple Choice

Melon Industries issues a $20,000, 10%, 135-day note to Apple Communications. Interest on the note is _________ and the maturity value is __________. (Use a 360-day year. Do not round any intermediate calculations. Round your final answers to the nearest dollar.)

A) $2,000; $22,000
B) $7,500; $27,500
C) $750; $20,750
D) $75; $20,075