Solved

Find the Maturity Date and Proceeds

Question 78

Multiple Choice

Find the maturity date and proceeds. Round to the nearest cent.
-Face value: $4,500
Discount rate: 9%
Date made: May 30
Time: 90 days
Maturity date: Find the maturity date and proceeds. Round to the nearest cent. -Face value: $4,500 Discount rate: 9% Date made: May 30 Time: 90 days Maturity date: Proceeds: A) Maturity date: August 28 Proceeds: $4,601.25 B) Maturity date: August 28 Proceeds: $4,398.75 C) Maturity date: August 30 Proceeds: $4,601.25 D) Maturity date: August 30 Proceeds: $4,398.75 Proceeds: Find the maturity date and proceeds. Round to the nearest cent. -Face value: $4,500 Discount rate: 9% Date made: May 30 Time: 90 days Maturity date: Proceeds: A) Maturity date: August 28 Proceeds: $4,601.25 B) Maturity date: August 28 Proceeds: $4,398.75 C) Maturity date: August 30 Proceeds: $4,601.25 D) Maturity date: August 30 Proceeds: $4,398.75


A) Maturity date: August 28
Proceeds: $4,601.25
B) Maturity date: August 28
Proceeds: $4,398.75
C) Maturity date: August 30
Proceeds: $4,601.25
D) Maturity date: August 30
Proceeds: $4,398.75

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q73: Find the date due and the maturity

Q74: Find the discount period.<br>-Loan made: Sep 10

Q75: Find the rate. Round to the nearest

Q76: Find the exact number of days from

Q77: Solve the problem. Round rates to the

Q79: Find the exact number of days from

Q80: Find the exact interest to the nearest

Q81: Answer the question.<br>-Explain how to find the

Q82: Find the exact number of days from

Q83: Find principal to the nearest dollar, rate