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eBook Show Me How Print Item Question Content Area Determine due date and interest on notes Determine the due date and the amount of interest

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Determine due date and interest on notes

Determine the due date and the amount of interest due at maturity on the following notes:

Note Date of Note Face Amount Interest Rate Term of Note
a. January 5* $98,000 6% 120 days
b. February 15* 27,000 4 30 days
c. May 19 68,000 8 45 days
d. August 20 32,000 5 90 days
e. October 19 48,000 7 90 days

*Assume a non-leap year in which February has 28 days.

Assume 360 days in a year when computing the interest.

Note Due Date Interest
a. Jan. 17Mar. 17May 5July 3Nov. 18 $fill in the blank 2
b. Jan. 17Mar. 17May 5July 3Nov. 18 $fill in the blank 4
c. Jan. 17Mar. 17May 5July 3Nov. 18 $fill in the blank 6
d. Jan. 17Mar. 17May 5July 3Nov. 18 $fill in the blank 8
e. Jan. 17Mar. 17May 5July 3Nov. 18 $fill in the blank 10

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