Question: Determine Due Date and Interest on Notes Determine the due date and the amount of interest due at maturity on the following notes. When calculating
Determine Due Date and Interest on Notes Determine the due date and the amount of interest due at maturity on the following notes. When calculating interest amounts, assume there are 360 days in a year. Round intermediate calculations to 4 decimal places, and round your final answers to the nearest whole dollar Date of Note Face Amount Interest Rate Term of Note a $50,020 January 15 30 days 11 % b. April 1 14,360 7 90 days C June 22 23,700 12 45 days d. August 30 24,825 13 120 days October 16 14.560 50 days Due Date Interest Due at Maturity a Feb. 14 b Jun 30 251.30 X C Aug. 6 d. Dec, 2017 Dec. 57
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
