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Presented below are data on three promissory notes. Determine the missing amounts. (Use 360 days for calculation.) Date of Note Terms Maturity Date Principal Annual Interest Rate Total Interest a) April 1 60 May 31 $510,000 14 % $ 14 11751.60 days 30 기 ɔ) July 2 August 1 81,600 48.03 % $884 days March 6 : September 7 166,000 15 % $ 124.50 7 months

Presented below are data on three promissory notes. Determine the missing amounts. (Use 360 days for calculation.) Date of Note Terms Maturity Date Principal Annual Interest Rate Total Interest a) April 1 60 May 31 $510,000 14 % $ 14 11751.60 days 30 기 ɔ) July 2 August 1 81,600 48.03 % $884 days March 6 : September 7 166,000 15 % $ 124.50 7 months

FINANCIAL ACCOUNTING
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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Presented below are data on three promissory notes. Determine the missing amounts. (Use 360 days for calculation.) Date of Note Terms Maturity Date Principal Annual Interest Rate Total Interest April 60 a) May 31 $510,000 14 % $ 11751.60 1 days 30 اد July 2 August 1 81,600 48.03 % $884 days March 6 :) September 7 166,000 15 % $ 124.50 7 months
Transcribed Image Text:Presented below are data on three promissory notes. Determine the missing amounts. (Use 360 days for calculation.) Date of Note Terms Maturity Date Principal Annual Interest Rate Total Interest April 60 a) May 31 $510,000 14 % $ 11751.60 1 days 30 اد July 2 August 1 81,600 48.03 % $884 days March 6 :) September 7 166,000 15 % $ 124.50 7 months
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