Determine the maturity date, interest at maturity, and maturity value for each of the following notes: a.

Question:

Determine the maturity date, interest at maturity, and maturity value for each of the following notes:

a. A 60-day, 10 percent, $4,800 note dated January 5 received from A. Gal for granting a time extension on a past-due account.

b. A 60-day, 12 percent, $3,000 note dated March 9 received from T. Kawa for granting a time extension on a past-due account.

Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...