Maturity Dates of Notes Receivable Determine the maturity date and compute the interest for each of the following notes: (Use 360 days for interest calculation. Round to the nearest dollar.) Date of Note Principal Interest Rate Term a. August 5 $6,000 8% 190 days b. May 10 16,800 7% 160 days c. October 20 24,000 9% 115 days d. July 06 4,500 10% 130 days e. September 15 9,000 8% 145 days
Maturity Dates of Notes Receivable Determine the maturity date and compute the interest for each of the following notes: (Use 360 days for interest calculation. Round to the nearest dollar.) Date of Note Principal Interest Rate Term a. August 5 $6,000 8% 190 days b. May 10 16,800 7% 160 days c. October 20 24,000 9% 115 days d. July 06 4,500 10% 130 days e. September 15 9,000 8% 145 days
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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Maturity Dates of Notes Receivable Determine the maturity date and compute the interest for each of the following notes: (Use 360 days for interest calculation. Round to the nearest dollar.)
| Date of Note |
Principal |
Interest Rate |
Term |
|
|---|---|---|---|---|
| a. | August 5 | $6,000 | 8% | 190 days |
| b. | May 10 | 16,800 | 7% | 160 days |
| c. | October 20 | 24,000 | 9% | 115 days |
| d. | July 06 | 4,500 | 10% | 130 days |
| e. | September 15 | 9,000 | 8% | 145 days |
| Maturity Date | |||
|---|---|---|---|
| Month | Day | Interest | |
| a. | Answer | Answer | Answer |
| b. | Answer | Answer | Answer |
| c. | Answer | Answer | Answer |
| d. | Answer | Answer | Answer |
| e. | Answer | Answer | Answer |
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