On December 11 a note is issued at 12% for $15,000. How much cash is paid at maturity. I thought it was 15,150 (15,000x12%x1/12) but that is not correctr
ROLCAM
Apr 3, 2009, 02:26 AM
When is maturity ?
blueemi
Apr 3, 2009, 03:25 PM
It is a 30 day note
ROLCAM
Apr 3, 2009, 07:09 PM
On December 11 a note is issued at 12% for $15,000. How much cash is paid at maturity. I thought it was 15,150 (15,000x12%x1/12) but that is not correct.
When is maturity ?
it is a 30 day note .