Multiple Choice
The maturity value of a 120-day note for $12,000 that bears interest at 8 percent a year is
A) $12,000.
B) $11,680.
C) $12,320.
D) $12,120. 12,000 x 120/360 x .08 = 320; 12,000 + 320 = 12,320.
Correct Answer:
Verified
Correct Answer:
Verified
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