A company borrowed $12,000 by signing a 120-day promissory note at 15%. The maturity value of the note is

A company borrowed $12,000 by signing a 120-day promissory note at 15%. The maturity value of the note is: (Use 360 days a year.)

$12,600.00

$15,900.00

$15,640.00

$16,500.00

$17,400.00

$12,000 + ($12,000 * 0.15 * 120/360) = $12,600.00