Accrued Interest Payable

Compute the interest accrued on each of the following notes payable owed by Northland, Inc., on December $31$:

Use $360$ days for calculations and round to the nearest dollar.

Lender Date of Note Principal Interest Rate $(\%)$ Term

Maple $11/21$ $$18,00010120$ days

Wyman $12/135,000890$ days

Nahn $12/1016,0001260$ days

Lender Accrued Interest

Maple Answer

$600$

Wyman Answer

$100$

Nahn Answer

$320$