Question: Presented below are data on three promissory notes. Determine the missing amounts.(Use 360 days for calculation.) Date of Note Terms Maturity Date Principal Annual Interest

Presented below are data on three promissory notes.

Determine the missing amounts.(Use 360 days for calculation.)

Date of Note Terms Maturity Date Principal Annual Interest Rate Total Interest
(a) April 1 60 days May 1May 31August 1August 31September 6September 7 $591,600 5 % $
(b) July 2 30 days May 1May 31August 1August 31September 6September 7 71,400 % $595
(c) March 7 6 months May 30May 31August 30August 31September 6September 7 122,000 9 %

$

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