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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 $23,000 8% 90 days
b. May 10 16,400 7% 120 days
c. October 20 20,000 9% 50 days
d. July 6 12,500 10% 75 days
e. September 15 21,500 8% 60 days

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