Face value of a note payable plus total interest is called:

Face value of a note payable plus total interest is called:

Face value of a note payable plus total interest is called:

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Face value of a note payable plus total interest is called:
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face value

 

principal

 

maturity value

 

proceeds

 

2

Hatmaker Company signs a note payable for $3,500 at 9% for 45 days. How much interest (to the nearest cent) will the company owe using a 360-day year?

 

$ 38.84

 

$354.38

 

$ 39.38

 

$315.00

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