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40. A note on which no rate of interest is specified is atn) market-rate note interest-bearing note. non-interest-bearing note variable note b. d. rses a note and transfers it to a bank, the process is callerd discounting a note receivable. b. cosigning a note receivable. collecting a note receivable dishonoring a note receivable. person who promises to pay a certain amount of money at a definite future time is caliled the b. c. discounter of the note. 42. The maker of the note. payee of the note. d. endorser of the note. 43. The face amount of a note that is promised to be paid at maturity is called the b. c. d. rate of interest. principal of the note. time of the note. discount of the note. 44, A $7,300, 11.9% note is dated April 21 and is due in 60 days. The amount of interest on the due date of the note would be a. $119.00. b. $60.00. C. $73.00. d. $144.78. 45, A $6,700, 8.5% note is dated April 10 and is due in 75 days. The maturity value of the note would be a. $6,800.00. b. $6,818.65 c. $7,500.00. d. $7,075.00. 46. When a bank collects a note for the holder, it notifies the holder on a form called a debit advice. proceed report. a. c. collection report. d. credit advice. 47, A $5,000, 12% note is dated April 10 and is due in 90 days. The due date would be a. b. C. d. June 9. June 10. July 9. July 10

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