To find the maturity value of a note using the ordinary interest method, you need to calculate the interest first and then add it to the principal amount.

Step 1: Calculate the Simple Interest

The formula for simple interest is:

$\text{Simple Interest} = \frac{P \times r \times t}{100}$

Where:

• $P = 60,000$ (the principal amount)
• $r = 9.25\%$ (the interest rate)
• $t = \frac{75}{360}$ (the time in years, using 360 days in a year for the ordinary interest method)

Now plug in the values:

$\text{Simple Interest} = \frac{60,000 \times 9.25 \times \frac{75}{360}}{100}$

Simplifying:

$\text{Simple Interest} = \frac{60,000 \times 9.25 \times 0.2083}{100} = 1155.75$

Step 2: Calculate the Maturity Value

The maturity value is the principal plus the interest:

$\text{Maturity Value} = P + \text{Simple Interest} = 60,000 + 1,155.75 = 61,155.75$

So, the maturity value of the note is P61,155.75.

Would you like more details or have any questions?

Here are five related questions:

1. How would the calculation change if the interest rate was compounded instead of simple?
2. What is the difference between ordinary and exact interest methods in terms of accuracy?
3. How do you determine the maturity value if the note period is given in months instead of days?
4. How does the maturity value change if the interest rate increases by 1%?
5. What would the interest amount be if the time period was extended to 90 days?

Tip: When working with financial calculations, double-check the time period conversion, especially when using different day conventions (360 vs. 365 days).