The maturity value of a $40,000 note at 11% for 5 months is:

Name: The maturity value of a $40,000 note at 11% for 5 months is:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The maturity value is calculated using the formula: Principal + (Principal * Rate * Time). Here, Principal = $40,000, Rate = 11% per annum, and Time = 5/12 years. The interest is $40,000 * 0.11 * (5/12) = $1,833.33. Adding this to the principal gives $41,833.33, which rounds to $41,833.

The Maturity Value of a $40,000 Note at 11% for 5