The amount of cash paid at maturity date on a $9,000 face value,60-day note bearing interest at 6 percent is
A) $9,720.
B) $9,090.
C) $9,000.
D) $9,540.

Name: The amount of cash paid at maturity date on a $9,000 face value,60-day note bearing interest at 6 percent is A) $9,720. B) $9,090. C) $9,000. D) $9,540.
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Question

Quizplus · Accepted Answer

The interest on the note is calculated as $9,000 * 6% * (60/365) = $90. The total amount paid at maturity is $9,000 + $90 = $9,090.

The Amount of Cash Paid at Maturity Date on a $9,000