Determine due date and interest on notes Determine the due date and the amount of interest due at maturity on the following notes: Face Amount Interest Rate Term of Note $93,000 120 days 27,000 30 days 66,000 c. May 19 45 days. d. August 20 32,400 90 days. 48,000 7 e. October 19 90 days *Assume a non-leap year in which February has 28 days. Assume 360 days in a year when computing the interest. Interest Date of Note a. January 5* b. February 15* Due Date 6% 4 8 5
Determine due date and interest on notes Determine the due date and the amount of interest due at maturity on the following notes: Face Amount Interest Rate Term of Note $93,000 120 days 27,000 30 days 66,000 c. May 19 45 days. d. August 20 32,400 90 days. 48,000 7 e. October 19 90 days *Assume a non-leap year in which February has 28 days. Assume 360 days in a year when computing the interest. Interest Date of Note a. January 5* b. February 15* Due Date 6% 4 8 5
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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