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The Maturity Value of a 90-Day Note for $4,000 That

Question 16

Multiple Choice

The maturity value of a 90-day note for $4,000 that bears interest at 10 percent a year is

A) $4,400.
B) $4,100.
C) $4,000.
D) $3,900. 4,000 x 90/360 x .1 = 100; 4,000 + 100 = $4,100.

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