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What is the maturity value of the note for Park Avenue Bank

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Problem 1: On August 14, Park Avenue Bank lent $280,000 to City Coffee Shop on a 75 day, 3% note. What is the maturity value of the note? (Use a 365-day year. Do not round intermediate calculations, and round the final answer to the nearest dollar.)

a. 280,000
b. 281,726
c. 281,750
d. 288,400

Reference no: EM132957901

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