how do i calculate interest?

(b) First, complete the table below to calculate the interest expense at maturity. Use those calculated values to prepare your journal entry to record payment of the note at maturity. (Use 360 days a year. Round final answers to the nearest whole dollar.) Answer is complete but not entirely correct. Interest at Maturity Principal $ 180,000 5% Rate (%) 60/360 Time 15,000 Total interest Exercise 9-3 Accounting for note payable LO P1 Sylvestor Systems borrows $180,000 cash on May 15, 2017, by signing a 60-day, 5% note. 1. On what date does this note mature? QJuly 13, 2017 July 14, 2017 July 15, 2017 July 16, 2017 OJuly 17, 2017 2. Assume the face value of the note equals $180,000, the principal of the loan. (a) Prepare the journal entry to record issuance of the note. View journal entry worksheet View transaction list Debi General Journal Date No 18 Cash May 15 1 Notes payable