Question

acompany receives a $49,000,

rate 12%, 60 day note. the maturity value of the note is?​

Answer 1

Answer:

49,980

Explanation:

my answer is 49,980

hope this may help u

Answer 2

Answer:

$ 49,980

The maturity value of the note is $ 49,980

Explanation:

Given :

Principal (P) = $ 49,000

Rate (r) = 12 %

Time = (t) = 60 days

To find :

The maturity value of the note

Solution :

First convert Rate (r) into decimal

Rate (r) = 12% / 100 = 0.12 per year

Convert time into year

60 days / 360 days (year) = 0.167 year

★ The Maturity Value :

Maturity Value = Principal × (1 + (Rate × Time))

⇒ 49,000 × (1 + (12 % × 60 days / 360 days))

⇒ 49,000 × (1 + (0.12 × 0.167))

⇒ 49,000 × (1 + 0.02)

⇒ 49,000 × 1.02

⇒ 49,980

The Answer is

$ 49,980

The maturity value of the note is $ 49,980