The maturity value of a $14,000, 6%, 9-month note is:
A) $630.
B) $14,000.
C) $14,630.
D) $13,370.

Name: The maturity value of a $14,000, 6%, 9-month note is: A) $630. B) $14,000. C) $14,630. D) $13,370.
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Quizplus · Accepted Answer

The maturity value of a note includes both the principal amount and the interest earned. The interest can be calculated as Principal × Rate × Time = $14,000 × 6% × (9/12) = $630. Therefore, the maturity value is the principal plus interest, which is $14,000 + $630 = $14,630.

The Maturity Value of a $14,000, 6%, 9-Month Note Is