Answer the question about the promissory note given.
------------------------Promissory Note------------------------ March 12
Ninety days after date above, I promise to pay to the order of Thomas Ronney $610 dollars and no
Cents with interest at 13% per year, payable at Nations Bank Abercorn Branch.
Due: June 10 Signed: Fred Nester
--------------------------------------------------------------
What is the face value of the note?
A)$1.17
B)$610
C)$14.03
D)$3.51

Question

Quizplus · Accepted Answer

The face value of a promissory note is the amount that is promised to be paid, which in this case is stated as $610. The face value of a promissory note is the amount of money that is promised to be paid. In this case, the face value of the note is clearly stated as $610, so the correct answer is B. The other answer choices are not relevant to the question.

Answer the Question About the Promissory Note Given