At the maturity of a note payable,a borrower will pay ________.
A) the principal plus interest
B) the principal amount only
C) the interest amount only
D) the principal minus interest

Question

Quizplus · Accepted Answer

At the maturity of a note payable, the borrower is required to pay the principal amount borrowed as well as the interest accrued over the borrowing period. Therefore, choice A (the principal plus interest) is the correct answer. The other choices (B, C, and D) do not reflect the full amount owed at maturity.

At the Maturity of a Note Payable,a Borrower Will Pay