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If the Interest on a Note Is 12

Question 96

Multiple Choice

If the interest on a note is 12.5% and the principal was $100,000, what is the maturity value of the note, if the note is outstanding for 7 months? (Round to the nearest dollar.)


A) $1,143
B) $7,292
C) $107,292
D) $112,500

Correct Answer:

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