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Maturity Dates of Notes Receivable Determine the maturity date and compute the interest for each of the following notes: (Use 360 days for interest calculation.
Maturity Dates of Notes Receivable Determine the maturity date and compute the interest for each of the following notes: (Use 360 days for interest calculation. Round to the nearest dollar.)
| Date of Note | Principal | Interest Rate | Term | |
|---|---|---|---|---|
| a. | August 5 | $12,000 | 8% | 45 days |
| b. | May 10 | 33,600 | 7% | 75 days |
| c. | October 20 | 48,000 | 9% | 120 days |
| d. | July 06 | 9,000 | 10% | 45 days |
| e. | September 15 | 18,000 | 8% | 90 days |
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1st Edition
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