Chapter 8, Problem 8.19EX

Determine due date and interest on notes

Determine the due date and the amount of interest due at maturity on the following notes:

	Date of Note	Face Amount		Interest Rate	Term of Note
A.	January 3*	$80,000	6%		120 days
B.	February 20*	27,000	4		30 days
C.	May 24	62,500	8		45 days
D.	August 30	30,000	5		90 days
E.	October 4	40,000	7		90 days
* Assume a leap year in which February has 29 days.