Face value of a note payable plus total interest is called:
A) maturity value.
B) face value.
C) proceeds.
D) principal.

Name: Face value of a note payable plus total interest is called: A) maturity value. B) face value. C) proceeds. D) principal.
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Question

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The maturity value of a note payable is the face value of the note plus the total interest due at maturity. It is the total amount that the borrower is obligated to pay to the lender when the note reaches its maturity date.

Face Value of a Note Payable Plus Total Interest Is