A four-month promissory note for $1600 dated June 30 bears interest at 6.5%. (a) What is the

Question:

A four-month promissory note for $1600 dated June 30 bears interest at 6.5%.
(a) What is the due date of the note?
(b) What is the amount of interest payable at the due date?
(c) What is the value of the note?
Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...