Question: 1. A note made on March 4 and due in 90 days would mature on what date? a. June 2 c. June 4 b. June

1. A note made on March 4 and due in 90 days would mature on what date?

a. June 2 c. June 4

b. June 3 d. June 5

2. What is the duration of a note dated May 14 and due July 14?

a. 59 days c. 61 days

b. 60 days d. 62 days

3. The maturity value of a $15,000, 60-day, 8 percent note would be:

a. $15,147.95 c. $15,295.89

b. $15,197.26 d. $14,949.32

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