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Date of Note Face Amount Interest Rate Term of Note a. January 5 * $94,000 8% 120 days b. February 15 * 24,000 7 30

Date of Note Face Amount Interest Rate Term of Note
a. January 5 * $94,000 8% 120 days
b. February 15 * 24,000 7 30 days
c. May 19 64,000 8 60 days
d. August 20 34,200 4 75 days
e. October 19 49,000 5 75 days

* Assume a leap year in which February has 29 days.

Assume 360 days in a year when computing the interest.

Round your answers to the nearest dollar.

Note Due Date Interest
a. May 4 $
b. Mar. 16
c. July 18

Correct

d. Nov. 3
e. Jan. 2

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