Question: Determine the maturity date and compute interest for each note. (Use 360 days a year. Do not round intermediate calculations.) Note 1. 2. 3. Contract

Determine the maturity date and compute interest for each note. (Use

Determine the maturity date and compute interest for each note. (Use 360 days a year. Do not round intermediate calculations.) Note 1. 2. 3. Contract Date March 2 May 16 October 21 Principal $ 12,000 16,000 8,000 Interest Rate 5% 7 3 Period of Note (Term) 60 days 90 days 45 days Maturity Date Interest Expense Contract Date 1. March 2 2. May 16 3. October 21 Maturity Month May August December

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