Business and finance: What is the due date and maturity value of the following?

Business & Finance
Tutor: None Selected Time limit: 1 Day

What is the date due and maturity value of the following: Date made June 19  Face value $6,000  Term of loan 200 days  Simple Interest Rate 9.75%

Dec 7th, 2015

Thank you for the opportunity to help you with your question!

it usually takes 7-10 days therefore it will mature between june 26- 29

value will be  .

6000*9.75/100*200/366=319.7

6000+319.7=6319.7

Please let me know if you need any clarification. I'm always happy to answer your questions.
Dec 7th, 2015

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Dec 7th, 2015
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