1. The exact interest method is calculated by using a 360-day year. True False 2. An interest bearing note must state the rate of interest. True False 3. The maturity value = the principal the interest. True False 4. A simple discount note has the bank add the interest in advance. True False 5. The compound amount or future value is the final amount of the loan or investment at the end of the last period. True False 1. The exact interest method is calculated by using a 360-day year. True False 2. An interest bearing note must state the rate of interest. True False 3. The maturity value = the principal the interest. True False 4. A simple discount note has the bank add the interest in advance. True False 5. The compound amount or future value is the final amount of the loan or investment at the end of the last period. True False