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March 26, 2017

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Find the maturity value of the undiscounted promissory note that states that Phillip Esterey borrowed $4,000 for a period of 7 months with ordinary interest at 7%. The date of the note was December 17, 2008. The maturity date was July 17.

  • math - ,

    P = Po + Po*r*t
    P = 4000 + 4000*(0.07/12)*7 = $4163.33

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