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Maturity Dates of Notes Payable Determine the maturity date and compute the interest for each of the following notes payable with add-on interest: Use 360
Maturity Dates of Notes Payable Determine the maturity date and compute the interest for each of the following notes payable with add-on interest: Use 360 days for calculations and round to the nearest dollar.
Date of note | Principal | Interest Rate | (%) | Term | |
---|---|---|---|---|---|
a. | August 5 | $18,000 | 8% | 90 days | |
b. | May 10 | 11,400 | 7% | 120 days | |
c. | October 20 | 15,000 | 9% | 45 days | |
d. | July 6 | 7,500 | 10% | 60 days | |
e. | September 15 | 16,500 | 8% | 60 days |
For the maturity date, select the appropriate month using the drop-down menu and enter the correct day next to the month using the fill-in the blank answer box.
Maturity Date | Interest | ||
---|---|---|---|
a. | AnswerJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember Answer | $Answer | |
b. | AnswerJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember Answer | Answer | |
c. | AnswerJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember Answer | Answer | |
d. | AnswerJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember Answer | Answer | |
e. | AnswerJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember Answer | Answer |
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