Question: QS 7-12 (Algo) Computing note interest and maturity date LO C2 Determine the maturity date and compute interest for each note. Note: Use 360

QS 7-12 (Algo) Computing note interest and maturity date LO C2 Determine the maturity date and compute interest for each note. Note: Use 360 days a year. Do not round intermediate calculations. Note Contract Date 1. March 3 Principal $ 12,000 Interest Rate Period of Note (Term) 6% 60 days 2. May 17 3. October 22 17,000 10,000 84 90 days 45 days Contract Date Maturity Month Interest Maturity Date Expense 1. March 3 May 17 2. May 17 August 3. October 22 December

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