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 May 1May 30May 31June 1July 31August 1August 2August 31September 1September 6September 7September 8September 30 | $510,000 | 14 | % | $enter total interest in dollars rounded to 0 decimal places | ||||||
| (b) | July 2 | 30 days | select a maturity date May 1May 30May 31June 1July 31August 1August 2August 31September 1September 6September 7September 8September 30 | 81,600 | enter an annual Interest Rate in percentages rounded to 0 decimal places | % | $884 | ||||||
| (c) | March 7 | 6 months | select a maturity date May 1May 30May 31June 1July 31August 1August 2August 31September 1September 6September 7September 8September 30 | 166,000 | 15 | % | $enter total interest in dollars rounded to 0 decimal places | ||||||
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