Understanding Maturity Date of a Note
When is the maturity date of a 30-day note dated June 18?
The maturity date of the note is July 18. The note is a 30-day note dated June 18. To determine the maturity date, we need to add 30 days to the date the note was issued. Let's calculate the maturity date:
Calculating Maturity Date
June 18 + 30 days = July 18
The maturity date of the note is July 18. In the context of your statement, if the maturity date of the note is stated as July 18, it means that the borrower is required to repay the loan amount in full on or before July 18. This date marks the end of the loan term, and failure to repay the loan by this date may result in penalties, additional interest charges, or other consequences outlined in the terms of the note. Therefore, the maturity date of the note is July 18.