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    blueemi's Avatar
    blueemi Posts: 5, Reputation: 1
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    #1

    Apr 2, 2009, 06:03 PM
    note payable at maturity
    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
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    ROLCAM Posts: 1,420, Reputation: 23
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    #2

    Apr 3, 2009, 02:26 AM

    When is maturity ?
    blueemi's Avatar
    blueemi Posts: 5, Reputation: 1
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    #3

    Apr 3, 2009, 03:25 PM
    It is a 30 day note
    ROLCAM's Avatar
    ROLCAM Posts: 1,420, Reputation: 23
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    #4

    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 .

    YES , $15,150 is correct.
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