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Marta_Voda [28]
3 years ago
15

Determine the maturity value of a 45-day note for $1,250 dated May 23 and bearing interest 8%.

Mathematics
1 answer:
Komok [63]3 years ago
3 0

The  maturity value of a 45-day note for $1,250 dated May 23 and bearing interest 8% is $1,262.5

Using this formula

Maturity value=Principal amount+ Interest

Let plug in the formula

Maturity value=$1,250+($1,250*8%*45 days/360 days)

Maturity value=$1,250+$12.5

Maturity value=$1,262.5

Inconclusion the maturity value is $1,262.5

Learn more about maturity value here:

brainly.com/question/2496341

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