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Determine the due date and amount of interest due at maturity on the following notes. Assume 360 days per year. Origination Date Face Amount Term
Determine the due date and amount of interest due at maturity on the following notes. Assume 360 days per year.
| Origination Date | Face Amount | Term of Note | Interest Rate | Maturity Date | Interest Amount | |
| a. | Mar. 15 | $8,000 | 60 days | 9% | $ | |
| b. | May 1 | $12,000 | 90 days | 8% | $ |
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Auditing An International Approach
Authors: Bahram Soltani
1st Edition
9780273657736
