Final answer:
To calculate the maturity value of a note receivable, multiply the principal amount by the interest rate, then add the principal amount to the interest earned. Finally, round the maturity value to the nearest dollar.
Step-by-step explanation:
To calculate the maturity value of a note receivable, you need to consider the principal amount, interest rate, and time period. In this case, the principal amount is $63,928, the interest rate is 7%, and the time period is 136 days.
To find the interest earned, multiply the principal amount by the interest rate:
Interest = Principal Amount * Interest Rate
Next, calculate the maturity value by adding the principal amount to the interest earned:
Maturity Value = Principal Amount + Interest
Finally, round the maturity value to the nearest dollar. Plugging in the values, the calculation would be:
Interest = $63,928 * 0.07 = $4,474.96
Maturity Value = $63,928 + $4,474.96 = $68,402.96
After rounding to the nearest dollar, the maturity value is $68,403.