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Posted on Jun 09, 2024

Using a 360day year, the maturity value of a 60 day note for $1,500 at 7% annual interest is (rounded to the nearest cent): A.

Using a 360dayyear, the maturity value of a 60daynote for$1,500 at7% annual interest is(rounded to the nearestcent):

A. $1,517.50. B. $1,605.00. C. $17.50. D. $1,482.50.

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