Calculate the maturity value of a $1,000 face value, 5-month promissory note dated December 31, 2015, and bearing interest at 9.5% simple interest.

Promissory Note

A financial instrument involving a written promise by one party to pay another a definite sum of money either on demand or at a specified future date.

Simple Interest

Interest calculated only on the original principal, not on the accumulated interest from previous periods.

Maturity Value

The amount payable to an investor at the end of a debt instrument's life, including both the principal and the interest.