On November 1, Alan Company signed a 120-day, 10% note payable, with a face value of $18,000. What is the maturity value (principal plus interest) of the note on March 1? (Use 360 days a year.)
A. $18,000
B. $18,200
C. $18,600
D. $18,400
E. $18,300
Answer: C
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