Question: A $20,000, 3-month, 8% note is dated June 1, 2016. The maturity date and maturity value of the note are, respectively: a. September 1, 2016;

A $20,000, 3-month, 8% note is dated June 1, 2016. The maturity date and maturity value of the note are, respectively:

a. September 1, 2016; $20,400

b. August 29, 2016; $20,400

c. September 1, 2016; $400

d. August 29, 2016; $20,000

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