If the Maturity Value of a 210 day note is $63,500 and the interest is $3,500, based on 10%, what is the principal of this note?

Name: If the Maturity Value of a 210 day note is $63,500 and the interest is $3,500, based on 10%, what is the principal of this note?
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Quizplus · Accepted Answer

The maturity value is the principal plus interest. Given the maturity value is $63,500 and the interest is $3,500, the principal is $63,500 - $3,500 = $60,000.

If the Maturity Value of a 210 Day Note Is