Match each description to the appropriate term (a-h).
-The dollar amount stated on a promissory note
A)Face amount
B)Term
C)Interest
D)Maturity value
E)Dishonored note
F)Maker
G)Notes receivable
H)Interest rate

Question

Quizplus · Accepted Answer

The face amount is the dollar amount stated on a promissory note.

Answer: D 
 Maturity value is the amount a promissory note is worth at the end of its term, including the face amount and any interest earned.

Answer: E
 A dishonored note is a promissory note that has not been paid on its due date.

Answer: F
 The maker is the person or entity who signs a promissory note and agrees to pay back the money borrowed.

Answer: G
 Notes receivable are written promises to receive money, often in the form of promissory notes.

Answer: H
 The interest rate is the percentage charged for borrowing money, typically stated as an annual percentage rate.

Answer: B
 The term is the length of time a promissory note is in effect before it becomes due.

Answer: C
 Interest is a fee charged for borrowing money, typically stated as a percentage of the amount borrowed.

Match Each Description to the Appropriate Term (A-H)