Compute the maturity date and interest for the following notes. (Use 360 days for calculation.) Dates of Notes Terms (a) April 17 45 days (b) August 11 2 months (a) (b) Maturity date $ LA $ LA Principal Interest Rate $60,800 90,000 Interest 3% 7%
Compute the maturity date and interest for the following notes. (Use 360 days for calculation.) Dates of Notes Terms (a) April 17 45 days (b) August 11 2 months (a) (b) Maturity date $ LA $ LA Principal Interest Rate $60,800 90,000 Interest 3% 7%
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Compute the maturity date and interest for the following notes. (Use 360 days for calculation.)
(a) April 17
(b) August 11
(a)
Dates of Notes
(b)
Maturity date
Terms
45 days
2 months
$
$
Principal Interest Rate
$60,800
90,000
Interest
3%
7%
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