Alpha Incorporation received a 120-day, 8% note amounting to $450,000, dated 9th Aprilfrom Sigma Incorporation on its account. The maturity value of the note would be:a. $450,000b. $486,000c. $450,900d. $462,000
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5
Answer:
$462000 is the right answer
Explanation:
450000+450000 x 8/100 x 4/12. (120 days=4 months)
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