Maturity Dates of Notes Payable Determine the maturity date and compute the interest for each...
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Maturity Dates of Notes Payable Determine the maturity date and compute the interest for each of the following notes payable with add-on interest: Use 360 days for calculations and round the nearest dollar. Date of note Principal Interest Rate (%) Term a. August 5 $20,000 120 days b. May 10 8,400 90 days C. October 5 12,000 6 45 days d. July 6 6,000 60 days e. September 15 12,000 8 75 days 9 7 10 For the maturity date, select the appropriate month using the drop-down menu and enter the correct day next to the month using the fill-in the blank answer box. Maturity Date Interest a. $ b. C. d. - e
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