Question
Brief Exercise 8-08 Compute interest and find the maturity date for the following notes. (Use 360 days for calculation.) Date of Note Principal Interest Rate
Brief Exercise 8-08
Compute interest and find the maturity date for the following notes. (Use 360 days for calculation.)
| Date of Note | Principal | Interest Rate (%) | Terms | Interest | Maturity Date | |||||||
| (a) | June 10 | $82,800 | 10% | 60 days | $ | July 10July 11July 12August 8August 9August 10October 11October 12October 13October 14 | ||||||
| (b) | July 14 | $52,800 | 11% | 90 days | $ | July 10July 11July 12August 8August 9August 10October 11October 12October 13October 14 | ||||||
| (c) | April 27 | $36,000 | 12% | 75 days | $ | July 10July 11July 12August 8August 9August 10October 11October 12October 13October 14 |
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Managerial Accounting
Authors: Morse Hartgraves
8th Edition
1618532359, 9781618532350
