QS 7-11 (Algo) Computing note interest and maturity date LO C2 Determine the maturity date and compute interest for each note. (Use 360 days a year. Do not round intermediate calculations.) Note Contract Date Interest Period of Note 1. March 2 Principal $12,000 Rate (Term) 5% 60 days 2. May 16 16,000 7 90 days 3. October 21 8,000 3 45 days Contract Date Maturity Month Maturity Date Interest Expenses 1. March 2 2. May 16 3. October 21