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What is the Date due and Maturity value of the following Date made Jan 8, Face value $12,000, Term of loan 120 days, Simple interest rate 9%
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maturity value = face value + ( face value * time * rate)
= 12000 + 12000* 0.09 * 120/360
= 12000+ 360
= 12360
date due = April 8th
Completion Status:
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