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A company borrowed $10,000 by signing a 180-day promissory note at 9%. The total to be paid at maturity of the note is: (Use 360 days a year.) Multiple Choice $10,075 $10,300 $10,450 $10,900 $11,800

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Answer:

$10,450

Explanation:

Calculation for the maturity value of the note

The first step

(9%×$10,000×180/360 days)

=$450

Now let find the maturity value of the note

Maturity value of the note=$10,000+$450

Maturity value of the note=$10,450

Therefore maturity value of the note will be $10,450

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