Question: Question Content Area Determine due date and interest on notes Determine the due date and the amount of interest due at maturity on the following

Question Content Area

Determine due date and interest on notes

Determine the due date and the amount of interest due at maturity on the following notes:

Note Date of Note Face Amount Interest Rate Term of Note
a. January 5* $87,000 6% 120 days
b. February 15* 18,000 4 30 days
c. May 19 67,000 8 45 days
d. August 20 35,200 5 90 days
e. October 19 54,000 7 90 days

*Assume a non-leap year in which February has 28 days.

Assume 360 days in a year when computing the interest.

Note Due Date Interest
a.
b.
c.
d.
e.

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