Determine the maturity date, interest in 2011 and 2012, and maturity value for a 90-day, 12 percent,

Question:

Determine the maturity date, interest in 2011 and 2012, and maturity value for a 90-day, 12 percent, $15,000 note from a customer dated December 1, 2011, assuming a December 31 year-end.

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...