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On November 1 , Alan Company signed a 1 2 0 - day, 1 2 % note payable, with a face value of $ 2

On November 1, Alan Company signed a 120-day, 12% note payable, with a face value of $24,300. What is the maturity value (principal plus interest) of the note on March 1?
Note: Use 360 days a year.
Multiple Choice
$25,272
$24,948
$24,300
$24,624
$24,786

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