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When does a 75-day note receivable issued on May 3rd, 2022 mature?

July 16th, 2022

July 30th, 2022

July 15th, 2022

July 17th, 2022

Answer:

A 75-day note receivable issued on May 3rd, 2022 will mature on July 17th, 2022.

Understanding financial concepts such as note receivables and maturity dates is crucial to managing and growing your wealth. By learning how to calculate maturity dates and other key financial terms, you can make informed decisions about your money and investments.

A promissory note, like a 75-day note receivable, is a written agreement between a borrower and a lender outlining the terms of repayment. The maturity date is the date on which the borrower is required to repay the lender in full.

To calculate the maturity date of a 75-day note receivable issued on May 3rd, 2022, you need to count 75 days from the issue date. By adding the days in May, June, and July, you arrive at the maturity date of July 17th, 2022.

By understanding financial terms and concepts like maturity dates, you can take control of your financial future and make informed decisions to achieve your financial goals.