A long-term promissory note for $40,000 is taken out on June 15,2010.The interest rate on the note is j4 = 7% and the note is due on Dec 15,2015.What is the maturity value of the note?
A) $58,597.50
B) $58,589.15
C) $58,398.79
D) $57,581.47
Correct Answer:
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