The maturity value of a 60-day note for $6,000 that bears interest at 6 percent a year is
A) $6,060.
B) $6,600.
C) $6,000.
D) $5,940.

Name: The maturity value of a 60-day note for $6,000 that bears interest at 6 percent a year is A) $6,060. B) $6,600. C) $6,000. D) $5,940.
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Quizplus · Accepted Answer

The maturity value is calculated by adding the interest to the principal. The interest for 60 days on $6,000 at 6% per annum is $60. Therefore, the maturity value is $6,060.

The Maturity Value of a 60-Day Note for $6,000 That