A six months, 11% note for $14,000, dated April 15, is received from a customer. The maturity value of the note is:

Name: A six months, 11% note for $14,000, dated April 15, is received from a customer. The maturity value of the note is:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The maturity value of the note is calculated by adding the interest to the principal. The interest is calculated as $14,000 * 11% * (6/12) = $770. Therefore, the maturity value is $14,000 + $770 = $14,770.

A Six Months, 11% Note for $14,000, Dated April 15