On February $20$th$,$ a $5$ month note for $$4,100$ was received by Lucky Company to settle an amount owing from a customer. It bears

interest at the rate of $8\%$ per annum. Assume the note is settled on maturity and Lucky makes the appropriate entry. A year has $364$

days or $52$ weeks.

Required $1$: The amount $($simple interest plus principal$)$ received by Lucky at maturity is: $ $4236\mathrm{.}67($CORRECT ANSWER$)$

Required $2$: If the note has monthly compounded interest, the total amount of interest received by Lucky at maturity is: $$4238\mathrm{.}5($INCORRECT ANSWER$)$

Required $3$: If the note has biweekly compounded interest, the total amount of principal received by Lucky at maturity is: $$4227\mathrm{.}92($INCORRECT ANSWER$)$

Required $4$: If the note is sold on March $20$th$,$ the total amount of interest accrued by Lucky is: $$25\mathrm{.}23($INCORRECT ANSWER$)$

Required $5$: If the note has biweekly compounded interest and it is sold on March $20$th$,$ the total amount of interest accrued by Lucky

is: $$25\mathrm{.}27($CORRECT ANSWER$)$