Question: Determine the maturity date and compute interest for each note. (Use 360 day Note 1. 2. 3. Contract Date March 12 May 04 October 23

Determine the maturity date and compute interest for each note. (Use 360 day Note 1. 2. 3. Contract Date March 12 May 04 October 23 Principal $21,000 26,000 19,000 Interest Rate 6% 8 Period of Note (Term) 60 days 90 days 45 days 4 Contract Date Maturity Month Maturity Date Interest Expenses 11 1. March 12 2. May 04 3. October 23 May August December 2 22

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