The maturity value of a 12%, 60-day note for $5,000 is $5,600.

Name: The maturity value of a 12%, 60-day note for $5,000 is $5,600.
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Quizplus · Accepted Answer

The maturity value of a note is calculated by adding the interest earned to the principal amount. For a 12% annual interest rate on a $5,000 note over 60 days, the interest would be $5,000 * 12% * (60/365) = $98.63 approximately. Therefore, the maturity value would be $5,000 + $98.63 = $5,098.63, not $5,600.

The Maturity Value of a 12%, 60-Day Note for $5,000