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Determine the due date and the amount of interest due at maturity on the following notes. Assume 360 days per year. Date of Note Face
Determine the due date and the amount of interest due at maturity on the following notes. Assume 360 days per year.
Date of Note | Face Amount | Interest Rate | Term of Note | |
(a) | October 1 | $21,000 | 8% | 60 days |
(b) | August 30 | 9,000 | 10 | 120 days |
(c) | May 30 | 12,000 | 12 | 90 days |
(d) | March 6 | 15,000 | 9 | 60 days |
(e) | May 23 | 9,000 | 10 | 60 days |
Due Date | Interest |
1. | $ |
2. | |
3. | |
4. | |
5. |
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