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:
| Date of Note | Face Amount | Interest Rate | Term of Note | |||||
| a. | January 3 * | $80,000 | 6% | 120 days | ||||
| b. | February 20 * | 27,000 | 4 | 30 days | ||||
| c. | May 24 | 62,500 | 8 | 45 days | ||||
| d. | August 30 | 30,000 | 5 | 90 days | ||||
| e. | October 4 | 40,000 | 7 | 90 days |
* Assume a leap year in which February has 29 days.
| Note | Due Date | Interest |
| (a) | Jan. 2 March 21 May 2 July 8 Nov. 28 | $fill in the blank 2 |
| (b) | Jan. 2 March 21 May 2 July 8 Nov. 28 | $fill in the blank 4 |
| (c) | Jan. 2 March 21 May 2 July 8 Nov. 28 | $fill in the blank 6 |
| (d) | Jan. 2 March 21 May 2 July 8 Nov. 28 | $fill in the blank 8 |
| (e) | Jan. 2 March 21 May 2 July 8 Nov. 28 | $fill in the blank 10 |
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