A promissory note has a face value of $6000 and it has a date of issue of June 1 this year. The term is for 6 months. The rate of interest is 8.00%. What is the maturity value of the note? Select one: A. $6242.60 B. $6200.60 C. $6244.60 D. $6248.60 E. $6246.60
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June: 30 days July: 31 days August: 31 days September: 30 days October: 31 days November: 30 days Total days = 30 + 31 + 31 + 30 + 31 + 30 = 183 days Show more…
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