At the maturity of a note payable, a borrower will pay ________. the principal plus interest the principal minus interest the interest amount only the principal amount only
At the maturity of a note payable, a borrower will pay THE PRINCIPAL PLUS THE INTEREST. The principal refers to the face value of the note. The interest is the amount of money charged for the use of the principal over a specified period. It is the profit that the lender will earn. The maturity date is the day on which the note becomes due and it must be paid at that date.
