# Math Help - Maturity Value

1. ## Maturity Value

A businesswoman signs a 120-day, 9% simple interest note of $40,000 on May 25. Find the maturity date of the note and the maturity value of the note using ordinary method. 2. Originally Posted by magentarita A businesswoman signs a 120-day, 9% simple interest note of$40,000 on May 25. Find the maturity date of the note and the maturity value of the note using ordinary method.
Using "ordinary method", I assume, means using the simple interest formula.

$A=P+P\cdot R \cdot T$

$A=40000+40000\cdot .09 \cdot \frac{1}{3}$

$\boxed{A=\41,200}$ Value of the note at maturity

The maturity date is 120 days from May 25. If you include May 25,

7 days - May 25 to May 31
30 days - June
31 days - July
31 days - August
21 days - September
----------------------
120 days have been reached on September 21.

3. ## ok.....

Originally Posted by masters
Using "ordinary method", I assume, means using the simple interest formula.

$A=P+P\cdot R \cdot T$

$A=40000+40000\cdot .09 \cdot \frac{1}{3}$

$\boxed{A=\41,200}$ Value of the note at maturity

The maturity date is 120 days from May 25. If you include May 25,

7 days - May 25 to May 31
30 days - June
31 days - July
31 days - August
21 days - September
----------------------
120 days have been reached on September 21.
Words like "maturity value" and "ordinary method" blew me away.