If the interest rate on a note is 12.5% and the principal was $57,000, what is the

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If the interest rate on a note is 12.5% and the principal was $57,000, what is the maturity value of the note, if the term of the note is 5 months? (Round your final answer to the nearest dollar.)

a). $64,125

b). $59,969

c). $61,156

d). $57,000

Related Book For answer-question

Financial Markets and Institutions

ISBN: 978-1337099745

12th edition

Authors: Jeff Madura

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Posted Date: Jan 21, 2021 02:19 PM

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If the interest rate on a note is 12.5% and the principal was $57,000, what is the

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Financial Markets and Institutions

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