Multiple Choice
The amount of cash paid at maturity date on a $12,000 face value, 90-day note bearing interest at 10% is
A) $1,200
B) $12,000
C) $300
D) $12,300 12000 x 90/360 x .10 = 300; 12000 + 300 = 12300.
Correct Answer:
Verified
Correct Answer:
Verified
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