On August 14, Park Avenue Bank lent $210,000 to City Coffee Shop on a 75 day, 4% note. What is the maturity value of the note? (Use a 360-day year and round answers to the nearest dollar.)
A) $211,726
B) $211,750
C) $210,000
D) $218,400
B) $211,750
Explanation: Maturity value = Principal + Interest
Maturity value = $210,000 + $1750 ($210,000 × 0.04 × 75 / 360)
Maturity value = $211,750
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