Question: Brief Exercise 8-09 Presented below are data on three promissory notes. Determine the missing amounts. (Use 360 days for calculation.) Date of Note Terms Maturity

Brief Exercise 8-09

Presented below are data on three promissory notes. Determine the missing amounts. (Use 360 days for calculation.)

Date of Note

Terms

Maturity Date

Principal

Annual Interest Rate

Total Interest
(a) April 1 60 days

May 1May 31August 1August 31September 6September 7

 $676,200 5 % $

(b) July 2 30 days

May 1May 31August 1August 31September 6September 7

 88,500

% $590
(c) March 7 6 months

May 30May 31August 30August 31September 6September 7

 126,600 10 % $

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