Question: Presented below are data on three promissory notes. Determine the missing amounts. (Round answers for Total Interest to 0 decimal places, e.g. 825. Round annual
Presented below are data on three promissory notes. Determine the missing amounts. (Round answers for Total Interest to 0 decimal places, e.g. 825. Round annual interest rate to 0 decimal places, e.g. 15%. Use 360 days for calculation.)
| Date of Note | Terms | Maturity Date | Principal | Annual Interest Rate | Total Interest | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (a) | April 1 | 60 days | select a maturity date
| $770,000 | 9 | % | $enter total interest in dollars rounded to 0 decimal places
| ||||||
| (b) | July 2 | 30 days | select a maturity date
| 78,000 | enter an annual Interest Rate in percentages rounded to 0 decimal places
| % | $520 | ||||||
| (c) | March 7 | 6 months | select a maturity date
| 125,000 | 10 | % | $enter total interest in dollars rounded to 0 decimal places
| ||||||
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