Determine the maturity value of a 45-day note for $1250 dated May 23 and bearing interest at

Question:

Determine the value of a 45-day note for $1250 dated May 23 and bearing interest at 8%.
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...