On October 16 , the owner of a company borrowed \( \$ 66,000 \) on an 180 -day promissory note at \( 9.5 \% \) interest. Find the due date and the maturity value of the note. The due date is \( \square / \square \). The maturity value is \( \$ \square \).

1. **Determine the interest:** The interest rate is \( 9.5\% \) per year and the note is for 180 days. In many promissory note problems, it is assumed that a year has 360 days. Thus, the time in years is \[ t = \frac{180}{360} = 0.5. \] The interest \( I \) is calculated using the simple interest formula: \[ I = P \times r \times t, \] where \( P = \$66,\!000 \) and \( r = 0.095 \). Therefore, \[ I = \$66,\!000 \times 0.095 \times 0.5 = \$66,\!000 \times 0.0475 = \$3,\!135. \] 2. **Calculate the maturity value:** The maturity value is the sum of the principal and the interest: \[ \text{Maturity Value} = \$66,\!000 + \$3,\!135 = \$69,\!135. \] 3. **Determine the due date:** The note is issued on October 16. To find the due date, we add 180 days to October 16. - Days remaining in October from the 16th: \( 31 - 16 = 15 \) days. - Subtracting these, there are \( 180 - 15 = 165 \) days remaining. Now, add the days month‐by‐month: - **November (30 days):** \( 165 - 30 = 135 \) days remain. - **December (31 days):** \( 135 - 31 = 104 \) days remain. - **January (31 days):** \( 104 - 31 = 73 \) days remain. - **February (28 days):** \( 73 - 28 = 45 \) days remain *(assuming a non–leap year)*. - **March (31 days):** \( 45 - 31 = 14 \) days remain. - **April:** The remaining 14 days in April lead us to April 14. Therefore, the due date is April 14 of the following year. 4. **Final Answer:** - The due date is \( 04/14 \). - The maturity value is \( \$69,\!135 \).