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Presented below are the data on three promissory notes. Determine the missing amounts (round answers to 0 decimal places, e.g. 125 Assume length of year = 360 days.) Date of Note                Terms    Maturity        Principal     Annual Interest             Total Interest                                      Date                                     Rate April 1            60 days    ?                $605,200           11%                             ?       July 2            30 days    ?                  94,530             ?                          $630 March 7         6 months  ?                  112,550          11%                          ?

Presented below are the data on three promissory notes. Determine the missing amounts (round answers to 0 decimal places, e.g. 125 Assume length of year = 360 days.) Date of Note                Terms    Maturity        Principal     Annual Interest             Total Interest                                      Date                                     Rate April 1            60 days    ?                $605,200           11%                             ?       July 2            30 days    ?                  94,530             ?                          $630 March 7         6 months  ?                  112,550          11%                          ?

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 the data on three promissory notes. Determine the missing amounts (round answers to 0 decimal places, e.g. 125 Assume length of year = 360 days.)


Date of
Note                Terms    Maturity        Principal     Annual Interest             Total Interest
                                     Date                                     Rate

April 1            60 days    ?                $605,200           11%                             ?      
July 2            30 days    ?                  94,530             ?                          $630
March 7         6 months  ?                  112,550          11%                          ?  

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