Answer:
$81,333
Explanation:
Williams company issued an principal of $80,000
The principal was issued at a 5% rate
The time period is 120-day payable to Brown industries.
The first step is to calculate the interest
Interest= principal × rate × time
= $80,000×0.05×(120/360)
= $80,000 × 0.05 × 0.33333
= $1,333.32
Therefore, the maturity value can be calculated as follows
Maturity value= Interest+principal
= 1,333.32+$80,000
= $81,333.2
= $81,333
Hence the maturity value on the note is $81,333
