A company borrows $10,000 from the bank at 10% interest for sixty days.$10,000 is the ________ of the note.The maturity value of the note is ________.For computation of interest,use a 365-day year.(Round your final answer to the nearest dollar. )
A)maturity value;$10,164
B)present value;$10,000
C)future value;$10,000
D)principal;$10,164

Question

Quizplus · Accepted Answer

$10,000 + ($10,000 × 10% × 60/365)= $10,164

A Company Borrows $10,000 from the Bank at 10% Interest