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Question Content Area Determine due date and interest on notes Determine the due date and the amount of interest due at maturity on the following
Question Content Area
Determine due date and interest on notes
Determine the due date and the amount of interest due at maturity on the following notes:
Note | Date of Note | Face Amount | Interest Rate | Term of Note |
---|---|---|---|---|
a. | January 5* | $87,000 | 6% | 120 days |
b. | February 15* | 18,000 | 4 | 30 days |
c. | May 19 | 67,000 | 8 | 45 days |
d. | August 20 | 35,200 | 5 | 90 days |
e. | October 19 | 54,000 | 7 | 90 days |
*Assume a non-leap year in which February has 28 days.
Assume 360 days in a year when computing the interest.
Note | Due Date | Interest |
---|---|---|
a. | ||
b. | ||
c. | ||
d. | ||
e. |
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