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

Determine due date and interest on notes Determine the due date and

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 a. January 5* b. February 15* c. May 19 d. August 20 e. October 19 Face Amount Interest Rate Term of Note $100,000 6% 120 days 30,000 4 30 days 62,000 8 45 days 42,400 5 90 days 40,000 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 a. b. Due Date Interest May 5 Mar. 17 20,000 X 1,000 X C. July 3 d. Nov. 18 e. Jan. 17

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