Consider the following scenario when answering the following questions:
Your friend Jon is starting a new photography business that specializes in photographs of Central Park in New York City. Because his business is new and risky, he is unable to obtain a loan from the local bank. On June 21, 2017, you agree to pay a price of $4,000 for a bond from Jon. You will receive $5,000 in return on June 21, 2018.
-In the scenario,the date June 21,2018,is known as the

Question

Quizplus · Accepted Answer

June 21, 2018 is the maturity date because it is the date on which the bond will reach the end of its term and the investor (in this case, the person who bought the bond, which is you) will receive the principal amount (in this case, $5,000) from the issuer (in this case, Jon).

Consider the Following Scenario When Answering the Following Questions