Multiple Choice
A promissory note for $7200.00 dated May 15, 2016, requires an interest payment of $740.00 at maturity. If interest is at 9.6% compounded monthly, determine the due date of the note.
A) 23 July 2016
B) 21 Sep 2016
C) 23 May 2017
D) 24 Aug 2017
E) 11 Oct 2018
Correct Answer:
Verified
Correct Answer:
Verified
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