QS 7-12 (Algo) Computing note interest and maturity date LO C2 Determine the maturity date and compute interest for each note. Note: Use 360 days a year. Do not round intermediate calculations. Note 1. 2: 3. Contract Date March 13- May 5 October 24 Contract Date 1. March 13 2. May 5 3. October 24 Principal $ 21,000 27,000 20,000 Maturity Month Interest Rate 5% 6 2 Maturity Date Period of Note (Term) 60 days 90 days 45 days Interest Expense

QS 7-12 (Algo) Computing note interest and maturity date LO C2 Determine the maturity date and compute interest for each note. Note: Use 360 days a year. Do not round intermediate calculations