Determine due date and interest on notes

Determine the due date and the amount of interest due at maturity on the following notes:

	Date of Note	Face Amount			Interest Rate	Term of Note
a.	January 5 *	$90,000			4%	120 days
b.	February 15 *	18,000			7	45 days
c.	May 19	61,000			8	60 days
d.	August 20	34,100			4	75 days
e.	October 19	50,000			8	75 days

* Assume a leap year in which February has 29 days.

Assume 360 days in a year when computing the interest.

This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.

Open spreadsheet

Round your answers to the nearest dollar.

Note	Due Date	Interest
a.	Jan. 2Mar. 31May 4July 18Nov. 3May 4	$ fill in the blank 3
b.	Jan. 2Mar. 31May 4July 18Nov. 3Mar. 31	fill in the blank 5
c.	Jan. 2Mar. 31May 4July 18Nov. 3July 18	fill in the blank 7
d.	Jan. 2Mar. 31May 4July 18Nov. 3Nov. 3	fill in the blank 9
e.	Jan. 2Mar. 31May 4July 18Nov. 3Jan. 2	fill in the blank 11