A three month, 10% note for $8,000, dated April 15, is received from a customer. The face value of the note is:

Question

Quizplus · Accepted Answer

The face value of a note is the amount written on the note. In this case, the face value is $8,000, which is the amount borrowed by the customer. The interest rate and maturity date are not relevant to determining the face value of the note. Therefore, the correct answer is A) $8,000.

A Three Month, 10% Note for $8,000, Dated April 15