On August 14,Park Avenue Bank lent $210,000 to City Coffee Shop on a 75 day,4% note.What is the maturity value of the note? (Use a 360-day year and round answers to the nearest dollar.)

Name: On August 14,Park Avenue Bank lent $210,000 to City Coffee Shop on a 75 day,4% note.What is the maturity value of the note? (Use a 360-day year and round answers to the nearest dollar.)
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Question

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Maturity value = Principal + Interest
Maturity value = $210,000 + $1750 ($210,000 × 0.04 × 75 / 360)
Maturity value = $211,750

On August 14,Park Avenue Bank Lent $210,000 to City Coffee