Compute interest and find the maturity date for the following notes. (Round answers to 0 decimal places, e.g. 825) Date of Interest ETE Note Principal Rate (%) Terms (a) (b) June 10 $81,610 7% 60 days July 14 April 27 90 days 75 days $45,500 8% (c) $13,100 9% Interest Maturity Date (a) (b) (c)

Compute interest and find the maturity date for the following notes. (Round answers to 0 decimal places, e.g. 825) Date of Interest ETE Note Principal Rate (%) Terms (a) (b) June 10 $81,610 7% 60 days July 14 April 27 90 days 75 days $45,500 8% (c) $13,100 9% Interest Maturity Date (a) (b) (c)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Compute interest and find the maturity date for the following notes. (Round answers to 0 decimal places, e.g. 825)
Date of
Interest
ETE
Note
Principal
Rate (%)
Terms
(a)
(b)
June 10
$81,610
7%
60 days
July 14
April 27
90 days
75 days
$45,500
8%
(c)
$13,100
9%
Interest
Maturity Date
(a)
(b)
(c)

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Follow-up Questions

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Follow-up Question

Compute interest and find the maturity date for the following notes.

(a) date of note: June 10

Principal: $80,000

Interest Rate: 6%

Term: 60 days

(b) Date of Note: July 14

Principal: $50,000

Interest Rate: 7%

Term: 90 days

Principal:$12,000

Interest Rate: 8%

Term: 75 days

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